Joint venture or sub contracting
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 September 2012
Dear Friends,
One of my clients – say Mr. A is going to start with Electrical and Plumbing work for building under construction.
Contract is between builder and Mr. A.
Now Mr. A wants to sub contract the labour job work to another contactor. Mr. B.
Query:
1. Whether Mr. A can go for Joint venture with Mr.B.
2. Or Sub contracting with B.
Basically I want to know difference between JV & sub contact.
Also suggest which more beneficial to Mr.A.
If possible list out the formalities / document require in query 1 & 2.
With best regards.
One of my clients – say Mr. A is going to start with Electrical and Plumbing work for building under construction.
Contract is between builder and Mr. A.
Now Mr. A wants to sub contract the labour job work to another contactor. Mr. B.
Query:
1. Whether Mr. A can go for Joint venture with Mr.B.
2. Or Sub contracting with B.
Basically I want to know difference between JV & sub contact.
Also suggest which more beneficial to Mr.A.
If possible list out the formalities / document require in query 1 & 2.
With best regards.
Amol S Joglekar
(Expert)
11 September 2012
when A and B come together and share the responsibility, it shall be called as JV. When A is responsible for the said contract and A gets the work done from B, it may be a sub contract
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