ABSTRACT
Joint ventures may be entered into for a variety of reasons some of which may be termed aggressive in that they seek to bring together a combination of skills which are best able to undertake the work on a turnkey or main contractor basis. All joint ventures for whatever reason they are undertaken share certain characteristics and have certain problems which must be solved at the outset or else the relationship has a high probability of ending in disaster. In a consortium in contrast each party is wholly responsible within the consortium for the pricing and execution of a particular section of the work. If the purchaser is operating a pre-qualification system then one of various alternatives may apply. The joint venture may have pre-qualified initially as a joint venture. The parties have each pre-qualified in its own right but then decide during the tendering period that rather than submit separate bids they would like to joint venture.
