Q: Joint Venture Agreement between the companies

 Ans: 

THIS joint venture agreement is made at [•] on this [•] day of the [•][Year in words], 20_(the "Agreement")

BY AND BETWEEN:

[•][Company A]

a company established under the laws of [•][Relevant court/country/act] with its registered office at [•][Address] hereinafter referred to as "Company A", which expression shall unless excluded by or repugnant to the context or meaning thereof, be deemed to include its successors and permitted assigns;

AND

[•][Company B]

a company established under the laws of [•][Relevant court/country/act] with its registered office at [•][Address] hereinafter referred to as "Company B" which expression shall unless excluded by or repugnant to the context or meaning thereof, be deemed to include his legal representatives and permitted assigns.

WHEREAS Company A has long experience and knowledge in manufacturing [•] systems and possesses engineering know-how, technical information relating to the design, manufacture, and operation of such systems; and

WHEREAS Company B has specialized expertise in the business of 'Air Defence Systems', and is experienced in the development, manufacturing and world-wide sale of Air Defence Systems, including gun and fire control systems, integrated missile systems, C41 systems, lasers, optics, simulators and related technology, and

WHEREAS Company A and Company B will jointly develop two [•][Specific equipment/system name] according to the requirements of the Ministry of participate in [] trials to be expected in [•][Year], if shortlisted by Ministry of (hereinafter referred to as "Project") to

WHEREAS Company A and Company B are willing to set up a private limited company in [•][Specific country] in accordance with the laws of [•][Specific country] (hereinafter referred to as "JVC") for manufacture, marketing and sale of [•][Specific equipment/system name] (hereinafter referred to as " XYZ System") and/or related other systems;

WHEREAS the JVC shall be positioned as an authorized vendor of XYZ System to the Ministry of _(hereinafter referred to as "Program").

WHEREAS Company B has agreed to transfer technology to the JVC as soon as possible after the incorporation of the JVC in accordance with the covenants, mutual and reciprocal promises, obligations and conditions contained in the "License and Assistance Agreement".

NOW THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Company A and Company B agree as follows:

Keywords used: 

Knowhow: practical knowledge or skill; expertise.

Covenant: नियम

Hereinafter: further on in this document.

Set forth: state or describe something in writing or speech.