Glossary · J
Joint Venture (JV)
A temporary partnership of two or more firms that bid for and build a large project together, sharing its risks and profits.
What is Joint Venture (JV)?
A Joint Venture (JV) is a temporary partnership in which two or more construction firms pool resources, machinery and expertise to bid for and execute one project. JVs form to meet the pre-qualification criteria, such as turnover or technical experience, that governments set for very large tenders and that no single partner could meet alone.
Practical example
The NHAI invites bids for a 10 km sea-link bridge. Company A is an expert in marine piling but lacks financial scale. Company B has the capital but no sea-link experience. They form Company A-B JV, win the ₹5,000 crore tender and share the execution risk and the profit.
In SuperWise
SuperWise records a joint venture partner as an organisation of type SPV, the project lists the SPVs that make up its joint venture structure, and a work order or purchase order can name the SPV for a JV contract.
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