The regulations governing joint ventures formed under SBA MPP are explained in detail in 13 CFR 125.8 and 13 CFR 125.9. When two or more persons come together to form a partnership for the purpose of carrying out a project, this is called a joint venture. Note, the protégé is the responsible party for reporting the evaluation under its DUNS number. A joint venture is a business entity created by two or more companies entering into an agreement to combine their resources with the aim of achieving a specific business goal. Respective, annual reports and project-end reports are due 45 days after each operating year and 90 days after completion of the contract. Annual evaluations are due 30 days from the anniversary date on your welcome letter. The joint venture must submit annual evaluation reports, annual performance-of-work statements, and project-end performance-of-work to SBA and the contracting agencies explaining how the work is being performed for each contract. Definition: Joint Venture can be described as a business arrangement, wherein two or more independent firms come together to form a legally independent undertaking, for a stipulated period, to fulfil a specific purpose such as accomplishing a task, activity or project.However, for purposes of determining the protégé’s size, 40% of the revenues under the contract must be appropriated to the protégé. Assuming the joint venture and the protégé perform the minimum work share requirements, the protégé will perform 20% of the contract. The protégé must perform at least 40% of the work done by the joint venture. SBA will continue to review and approve all joint venture agreements formed to pursue sole source 8(a) contracts. The joint venture is a form of strategic alliance where a local company and a foreign entrant agree to share equity in running a partnership together. This includes joint venture agreements formed under the SBA MPP to perform a competitive 8(a) contract. SBA no longer approves joint venture agreements formed to pursue competitive 8(a) contracts. In order for your joint venture to be able to bid on contracts reserved for small businesses, you must follow the requirements for receiving an exclusion of affiliation for contracting purposes. The joint venture may also pursue any type of set-aside contract for which the protégé qualifies, including contracts set aside for 8(a), service-disabled veteran-owned, woman-owned, and HUBZone businesses. Leveraging the other partner’s experience and market shareĪ mentor and its protégé can joint venture as a small business for any small business contract, provided the protégé individually qualifies as small.Collective representation of past performance.Joint venture benefits to participants include: Market research and competitive analysis.
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