In addition, the jv must provide a description of each parties responsibilities contract negotiation, labor sources, & contract performance. ![]() If an indefinite quantity contract or a multiple award contract where the level of effort or scope is unknown. ![]() This includes ways that the parties will ensure that the jv and partner(s) will meet the performance of work requirements. Specifying the responsibilities of the parties with regarding contract negotiation, labor sourcing, and contract performance.Otherwise, specify how the parties to the joint venture will furnish such resources to the joint venture once a definite scope of work is made publicly available The joint venture must provide a general description of the anticipated major equipment, facilities, and other resources furnished by each party to the joint venture, without a detailed schedule of cost or value of each. If a contract is indefinite, or a multiple award contract where the level of effort or scope of work is unknown. This list must include a detailed schedule of cost or value of each, where practical. Itemizing all major equipment, facilities, and other resources furnished by each party to the joint venture.All deposits and payments for the jv contract must come from this account. This account must require the signature of all parties to the joint venture or designees for withdrawal purposes. Must establishment and administration of a special bank account in the name of the joint venture.Stating that the HUBZone business must receive profits from the jv commensurate with the work performed by the HUBZone business.If you elect to form a separate legal entity the HUBZone business must own 51%.The mentor cannot provided the project manager for the joint venture.However a signed employment letter of intent and statement that once a you win the contract the individual will become the project manager. At the time you submitted the offer the project manager does not need to be an employee.And an employee of the HUBZone business managing venturer as the project manager responsible for performance of the contract. Also, designating a HUBZone business as the managing venturer of the joint venture.Setting forth the purpose of the joint venture.This includes joint ventures between a protege and its SBA-approved mentor. Joint Venture ContentsĮvery HUBZone Joint Venture Agreement (JVA) must include the following provisions. Do you want to perform a joint venture with your SBA-approved Mentor? Then you can do this as long as the protege business is small for the NAICS code assigned to the procurement. So long as each business is small for the NAICS code assigned to the procurement. Let’s Talk SizeĪ Joint Venture with one or more qualified HUBZone businesses and one or more other businesses may submit an officer on a HUBZone procurement. Unlike the 8(a) BD Joint Venture, a Joint Venture does not required certification. If your MPA has been approved by SBA then you can enter into a joint venture with your mentor. What do I mean by approved mentor? Well, SBA has to approve your Mentor Protege Agreement (MPA) either through the All Small Mentor Protege Program or the 8(a) Program. In addition, a business can enter into a Joint Venture with it’s approved mentor. Generally a qualified business may enter into a joint venture agreements with one or more other small businesses. What requirements must a joint venture satisfy to submit an offer on a HUBZone contract? The reason why? This program is for small businesses only and does not apply to large businesses. However a large business cannot be a prime contractor on a HUBZone contract. The answer is that a large business can be a subcontractor on a HUBZone contract. One of the most common questions asked is can a large business receive a HUBZone contract. Today, we are going to be talking about HUBZone Joint Ventures (JV). ![]()
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