Alliances help contractors stay ahead of game

More are taking a direct stake instead of immediate payments, ensuring they have a vested interest in ensure timely completions in what could be a win-win situation for all | THE BIG 5 EXHIBITION

For contractors opting for a stake in a project, they have to put their signatures on ‘joint development agreements’ with the project’s promoter.

But the process can be time consuming, Also, in cases of a dispute, both parties better be prepared for the long haul.

Unlike with ‘joint venture agreements’, the nature of the compensations due for partners in a joint development agreement (JDA) needn’t be as clear cut in case there a break-up at a later date.