Parts 1–3 of the NASBP Surety Bond Quarterly Series: “What You Need to Know About Joint Ventures in the Construction Industry”

The article series “What You Need to Know About Joint Ventures in the Construction Industry” by Mike Zisa and Joshua Morehouse of Peckar & Abramson provides a comprehensive guide for contractors and surety professionals navigating the complexities of joint ventures (JVs). Divided into three parts, it explores the benefits, risks, and key considerations for forming successful JVs..

• Part 1 outlines the strategic advantages of JVs, such as access to new opportunities and resource sharing, while addressing potential risks like misaligned goals and financial exposure.
• Part 2 focuses on crafting effective JV agreements, detailing essential provisions that ensure equitable partnerships and mitigate disputes.
• Part 3 delves into JVs under federal small business programs, highlighting compliance requirements and the potential liabilities for misuse, especially for sureties.

This series is an essential resource for construction professionals, legal advisors, and surety bond producers, offering actionable insights to foster successful and compliant JV arrangements.

Published part 3 of the series in spring 2021.

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