Joint Venture (JV) تحالف مقاولين
Definition
An agreement between two or more companies to execute a single project with a defined split of shares, responsibilities and risks — with joint and several liability to the owner as the default.
Example
Two companies joined to meet the experience requirement on an infrastructure project.
Where it is used
Reaching projects beyond a single company’s capacity or classification.
Related terms
From the term to the work
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