Examples of Venture firm in a sentence
No member of the Joint Venture firm shall have the right to assign or transfer the interest right or liability in the contract without the written consent of the other members and that of the employer in respect of the said tender/contract.
Authorized Member -Joint Venture members shall authorize one of the members on behalf of the Joint Venture firm to deal with the tender, sign the agreement or enter into contract in respect of the said tender, to receive payment, to witness joint measurement of work done, to sign measurement books and similar such action in respect of the said tender/contract.
Joint Venture firm shall be jointly and severally responsible for completion of the project.
All notices/correspondences with respect to the contract would be sent only to this authorized member of the JV firm.No member of the Joint Venture firm shall have the right to assign or transfer the interest right or liability in the contract without the written consent of the other members and that of the employer in respect of the said tender/contract.
The bid can be submitted by an Indian individual firm only or by Joint Venture firm having Indian partner firms only.
Joint Venture members shall authorize one of the members on be-half of the Joint Venture firm to deal with the tender, sign the agreement or enter into con-tract in respect of the said tender, to receive payment, to witness joint measurement of work done, to sign measurement books and similar such action in respect of the said ten-der/contract.
But if the experience has been earned by the bidder as a partner in a Joint Venture firm then the proportionate value of experience in proportion to the actual share of bidder in that Joint Venture will be considered against eligibility.
The lead partner of the Joint Venture firm should meet 100% of the Technical Qualifying Requirement (TQR) of the respective tender.
The calculation of Volume of Previous Work for a prime Vendor previously awarded a contract as a member of a Joint Venture firm is based on the actual equity ownership of the Joint Venture firm.
No Joint Venture firm will be entertained under any circumstances.