Revised JV contract
DATED _____, ___
JOINT VENTURE CONTRACT
between
A COMPANY
and
B COMPANY
TABLE OF CONTENT
CHAPTER I - GENERAL .................................................................................................. 4
ARTICLE 1: DEFINITIONS .......................................................................... 5
ARTICLE 2: AGREEMENT TO CONVERSION OF THE COMPANY ................. 6
ARTICLE 3: NAME AND ADDRESS OF THE COMPANY ............................... 6
ARTICLE 4: LIMITED LIABILITY AND JURIDICAL STATUS OF THE COMPANY
................................................................................................................ 6
ARTICLE 5: CHARTER .............................................................................. 7
ARTICLE 6: EFFECTIVE DATE ................................................................... 7
CHAPTER II - OBJECTIVES AND SCOPE OF ACTIVITY OF THE COMPANY . 7
ARTICLE 7: OBJECTIVES AND SCOPE OF BUSINESS OF THE COMPANY . . . 7
ARTICLE 8: PROJECT IMPLEMENTATION SCHEDULE ................................ 7
CHAPTER III - CAPITAL OF THE COMPANY ........................................................... 8
ARTICLE 9: CAPITAL OF THE COMPANY .................................................. 8
ARTICLE 10: REDUCTION, INCREASE OF THE CHARTER CAPITAL ........... 8
ARTICLE 11: ASSIGNMENT OF SHARES ................................................... 9
CHAPTER IV - RESPONSIBILITIES OF EACH PARTY ........................................... 9
ARTICLE 12: RIGHTS AND OBLIGATIONS OF THE COMPANY ................... 9
ARTICLE 13: RESPONSIBILITIES OF THE PARTIES .................................... 9
ARTICLE 14: WARRANTS AND REPRESENTATIONS OF THE PARTIES .... 11
CHAPTER V - FINANCE OF THE COMPANY .......................................................... 11
ARTICLE 15: FINANCIAL OBLIGATIONS .................................................. 11
ARTICLE 16: DIVISION OF PROFITS ....................................................... 11
ARTICLE 17: TAX OBLIGATIONS ............................................................. 11
ARTICLE 18: FOREIGN EXCHANGE ........................................................ 12
ARTICLE 19: BANK ACCOUNT ................................................................ 12
ARTICLE 20: INSURANCE ...................................................................... 12
CHAPTER VI - ACCOUNTING AND STATISTICS ................................................... 12
ARTICLE 21: ACCOUNTING AND STATISTICS ......................................... 12
ARTICLE 22: AUDIT ............................................................................... 13
ARTICLE 23: FISCAL YEAR ..................................................................... 13
CHAPTER VII - MEMBERS’ COUNCIL, MANAGEMENT AND STAFF .............. 13
ARTICLE 24: MEMBERS’ COUNCIL .......................................................... 13
ARTICLE 25: MANAGEMENT OFFICE ...................................................... 14
ARTICLE 26: RECRUITMENT OF PERSONNEL ......................................... 15
CHAPTER VIII - DISSOLUTION, LIQUIDATION OF THE COMPANY, AND
TERMINATION OF THE JV CONTRACT .................................................................. 15
ARTICLE 27: DISSOLUTION OF THE COMPANY ...................................... 15
ACTICLE 28: LIQUIDATION OF THE COMPANY ....................................... 15
ARTICLE 29: TERMINATION OF THE JV CONTRACT ................................ 15
CHAPTER IX - OTHER PROVISIONS ........................................................................ 16
ARTICLE 30: CLAIMS FOR DAMAGES .................................................... 16
ARTICLE 31: SETTLEMENT OF DISPUTES ............................................... 16
ARTICLE 32: FORCE MAJEURE ................................................................ 17
ARTICLE 33: CONFIDENTIALITY .............................................................. 17
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ARTICLE 34: CIRCUMSTANCES NOT STIPULATED IN THE JV CONTRACT
AND IN THE CHARTER ........................................................................... 17
ARTICLE 35: NO WAIVER ....................................................................... 18
ARTICLE 36: LANGUAGE OF THE JV CONTRACT ..................................... 18
ARTICLE 37: AMENDMENTS AND MODIFICATIONS OF THE JV CONTRACT
.............................................................................................................. 18
ARTICLE 38: GOVERNING LAWS ............................................................ 18
ARTICLE 39: SEVERABILITY .................................................................... 18
ARTICLE 40: NOTICES ............................................................................ 19
............................................................................................................. 19
ARTICLE 41: HEADINGS ......................................................................... 19
ARTICLE 42: SIGNING .......................................................................... 19
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JOINT VENTURE CONTRACT
BASED ON:
1) Law on Investment, passed by National Assembly of Vietnam on 29 November
2005;
2) Decree No. 108/2006/ND-CP dated 22 September 2006 guiding a number of articles
of Law on Investment;
3) Other relevant laws and regulations.
This Joint Venture Contract is made and signed on this day of 30 March 2007 in Vietnam
by and between the following Parties:
A. THE VIETNAMESE PARTY
Company Name: A Company
Head Office: [____]
Telephone: [____]
Authorized Representative: [____]
Title: [____]
Nationality: [____]
ID No.: [____].
(Hereinafter referred to as the “Vietnamese Party”)
B. THE FOREIGN PARTY
Company Name: B Company
Head Office: [____]
Telephone: [____]
Facsimile: [____]
E-mail: [____]
Authorised Representative: [____]
Title: [____]
Nationality: [____]
Passport No.: [____]
(Hereinafter referred to as the “Foreign Party”).
The Parties hereto have mutually agreed to sign this Joint Venture Contract (Hereinafter
referred to as the “JV Contract”) with the terms and conditions hereunder set forth:
CHAPTER I - GENERAL
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ARTICLE 1: DEFINITIONS
In this JV Contract, the following words and terms shall have the meanings as ascribed to
them hereinafter:
1.1 ''Members’ Council” shall mean the Members’ Council of Company as defined in
Article 24 hereinafter.
1.2 “Charter” shall mean the charter of Company to be executed by the Vietnamese
Party and the Foreign Party in accordance with this JV Contract.
1.3 ''Dong” shall mean the lawful currency of Vietnam.
1.4 “Feasibility Study” means the written analysis of the feasibility of the Project
prepared by the Parties and attached to the Investment License Application.
1.5 “Foreign Party” shall mean B Company.
“Vietnamese Party” shall mean A Company.
1.6 “Parties” shall mean the Vietnamese Party and the Foreign Party collectively; and
“Party” shall mean either of the Vietnamese Party or the Foreign Party, as the
context requires.
1.7 “Investment Licence” shall mean the investment license issued by the Licensing
Authority or a competent authority in Vietnam for the establishment and the
operation of Company.
1.8 “Investment Certificate” shall mean the investment certificate issued by the
Certificate Issuing Authority for approval on the re-registration of the Company.
1.9 “JV Contract” shall mean this Joint Venture Contract concluded by the Parties for
the purpose of establishing Company and all annexes, agreements, schedules and
documents attached hereto.
1.10 “Laws of Vietnam” shall mean relevant laws, regulations and any other legal
writings of the Socialist Republic of Vietnam as amended or re-enacted from time
to time.
1.11 “Licensing Authority” shall mean Hanoi People’s Committee and/ or a competent
authority of Vietnam, which is responsible for the approval and issuance of the
Investment License within its authority under the Laws of Vietnam.
1.12 “Certificate Issuing Authority” shall mean Department of Investment and
Planning or any competent authority of Vietnam, which is responsible for issuance
of the Investment Certificate within its authority under the Laws of Vietnam.
1.13 “Project” shall mean the project on “production, manipulation, processing and sale
of high quality fashion jewellery” which are jointly carried out by the Parties.
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