Common use of JOINT VENTURE REQUIREMENTS Clause in Contracts

JOINT VENTURE REQUIREMENTS. 2.3.1 For Public Works Contracts, each Joint Venturer shall be qualified and capable to complete the Work with their own forces. 2.3.2 Included with the Bid submission, and as a requirement to bid, a copy of the executed Joint Venture Agreement shall be submitted and signed by all Joint Venturers involved. 2.3.3 All required Bid Bonds, Performance Bonds, Material and Labor Payment Bonds must be executed by both Joint Venturers and be placed in both of their names. 2.3.4 All required insurance certificates shall name both Joint Venturers. 2.3.5 Both Joint Venturers shall sign the Bid Form. 2.3.6 Both Joint Venturers shall include their Federal E.I. Number with the Bid. 2.3.7 In the event of a mandatory Pre-bid Meeting, each Joint Venturer shall have a representative in attendance. 2.3.8 Due to exceptional circumstances and for good cause shown, one or more of these provisions may be waived at the discretion of the State.