JOINT VENTURE AGREEMENT

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This Joint Venture (JV) agreement is made and entered into on this day 01st of APRIL
2018 by and between

FIRST PARTY: MOUNIRAH HAMOUD ALOTAIBI CONTRACTING EST.

CR No.1010266429, Tel: 011 – 4358922. PO Box: 12633 Riyadh 7178 Kingdom of
Saudi Arabia. Hereinafter referred to as the contractor.
AND
SECOND PARTY: MOHAMMAD SHAMAN ALOTIBI CONTRACTING EST.
CR No. 1010949138, Tel: 050060178. 7172 Ibn Sulaiman Commercial Center, Office’s
Tower, Office No. 607, 12633 Riyadh, KSA.

Whereas the First party is the contractor for the construction of the project named ‘’
CIVIL, FIBER & ENIVORNEMNATAL PROJECTS ‘’ and second party has
technical and physical capability to handle the entire safety management for the project
specially 3rd party inspection, certifications, fire protection, detection and complete
safety system on the site as well as on the project. Both the parties initially agree on the
terms mentioned below and sign the joint venture agreement successfully implement the
project.

ARTICLE 1.0: Joint Venture agreement DOCUMENTS and DEFINITION

 Client: Saudi Electricity Company, STC, ITC, ANM & Mobily
 Contract: means the JV agreement between contractor the First Party and service
provider, the Second party.
 Project: means any construction of the project named ‘’ CIVIL & FIBER
PROJECTS’’

P.O. Box: 7781, Riyadh – 14817 Kingdom Of Saudi Arabia

Tel/Fax: +966 11 435 8922 Mob: +966 59 525 6522
E-mail: info@dewpoint360.com
The following documents are the integral part of the service contract and shall have the
same legal value as the service contract itself.
- The service contracts.
- The scope of work and the unit price signed by both the parties.
- Specification: Provided by the client and accepted by the contractor and service
provider
- General Site layout.
Article 2.0: Type of contract:
 Stage 1: 3rd party inspection, certifications, fire protection, detection and complete
safety system
It shall be a lump sum contract whereas the Scope of this contract is shall be defined at
later stage upon getting the detailed information from the clients. whereas the service
provider shall visit the site understand the entire scope and will quote and agree with the
second party all the rates and terms at later stage where as the job has to be done as per
the satisfaction of the client or the consultant appointed by the client.
 Stage 2: To cover all the scope of 3rd party inspection, certifications, fire protection,
detection and complete safety system.
It’s a re-measured contract based upon the detailed bill of quantities BOQ provided be the
contractor and accepted by the client and the contractor. If any item mentioned in the
BOQ is increased or decreased the value of that scope will be affected accordingly.

Article 3.0: Value and Payment Terms:

The Project Value and the all the terms of the payment shall be agreed at later stage upon
The finial demarcation of the scope for the service provider on both the stages of the job.

Article 4.0: Completion Period:

48 months from the date of signing of the agreement.
P.O. Box: 7781, Riyadh – 14817 Kingdom Of Saudi Arabia
Tel/Fax: +966 11 435 8922 Mob: +966 59 525 6522
E-mail: info@dewpoint360.com
Article 5.0: ARBITRATION
If there is any dispute between the parties arising out of or relating to the performance of
Either party of their obligations under this contract or any dispute related to the
Interpretation of the contract whether it is legal or technical in nature both the parties or
Their designated representatives shall meet to resolve any such disputes amicably by
Process of negotiation. Should this dispute not deemed to be resolved then the matter
shall be submitted Exclusively to arbitration for final settlement. The arbitration award
should be final and Enforceable and the procedure of arbitration shall not suspend the
execution of the Contract.

Article 6.0: This agreement is made and signed in two copies with a copy to each party.

FIRST PARTY : MOUNIRAH HAMOUD ALOTAIBI CONTRACTING EST.

NAME: Naveed Ahmed Aftab
POSITION: Operational Manager
SIGNATURE:
STAMP:

SECOND PARTY: MOHAMMAD SHAMAN ALOTIBI CONTRACTING EST.

NAME: Engr. Abdul Rehman
POSITION: Business Development Manager
SIGNATURE:
STAMP:

P.O. Box: 7781, Riyadh – 14817 Kingdom Of Saudi Arabia

Tel/Fax: +966 11 435 8922 Mob: +966 59 525 6522
E-mail: info@dewpoint360.com