IV. Principles of Cooperation
It is also important to address in a joint venture agreement the main principles…
a. The necessity to act in accordance with the principles of good faith and fair…
b. The duty to inform without undue delay, which is applicable to any matters which…
c. The principle of confidentiality and of prohibition of corruption (for example,…
d. The fourth principle of cooperation is the Exclusivity and the prohibition against…
“The Consortium Member shall cooperate on an exclusive basis to achieve the objectives set forth in Article 2.1 hereof. In particular, no Consortium Member shall by itself or with third parties, either make offers or enter into agreements concerning the Project or any part thereof.…
The foregoing exclusivity obligation only applies to products and services which belong to the Scope of Work of the respective Consortium Member. This exclusivity obligation shall apply until the Consortium is wound up pursuant to Article 15.2 hereof. If a Consortium Member voluntarily leaves or is expelled from the Consortium for any reason for which it is responsible this obligation shall bind it until the Consortium is wound up pursuant to Art. 15.2 of this Agreement.” …
It is important to draw here the attention upon the fact that the cooperation must…
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