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Consortium Agreement Form

Consortium Agreement Form Template for Saudi Arabia

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Key Requirements PROMPT example:

Consortium Agreement Form

"I need a Consortium Agreement Form for a joint infrastructure development project in Riyadh starting March 2025, involving three companies (two Saudi, one international), with specific attention to local content requirements and Shariah-compliant financing arrangements."

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Document background
The Consortium Agreement Form is a crucial legal document used in Saudi Arabia when multiple organizations wish to collaborate on large-scale projects while maintaining their separate legal identities. This document is essential for projects requiring diverse expertise, substantial resources, or local partner participation under Saudi regulations. The agreement comprehensively addresses consortium formation, management, and operation, incorporating necessary compliance with Saudi laws, including Shariah principles and local content requirements. It's particularly vital for government tenders, infrastructure projects, and strategic initiatives where risk-sharing and combined capabilities are necessary. The document typically requires careful consideration of Saudi Arabian commercial law, foreign investment regulations, and sector-specific requirements.
Suggested Sections

1. Parties: Identification and details of all consortium members

2. Background: Context of the consortium formation and its objectives

3. Definitions and Interpretation: Key terms used in the agreement and rules of interpretation

4. Formation of Consortium: Legal basis of the consortium and its structure

5. Scope of Work: Overall scope of the consortium's activities and project objectives

6. Roles and Responsibilities: Specific duties and obligations of each consortium member

7. Lead Member Provisions: Authority and responsibilities of the lead consortium member

8. Financial Arrangements: Cost sharing, revenue distribution, and financial management

9. Governance Structure: Decision-making processes and management framework

10. Representations and Warranties: Statements of fact and assurances by each party

11. Liability and Indemnification: Allocation of risks and responsibilities for losses

12. Term and Termination: Duration of the agreement and termination provisions

13. Confidentiality: Protection of confidential information and trade secrets

14. Dispute Resolution: Procedures for resolving disputes under Saudi law

15. Governing Law: Confirmation of Saudi law and Shariah principles as governing law

16. General Provisions: Standard legal provisions including notices, amendments, and assignment

Optional Sections

1. Islamic Finance Compliance: Specific provisions ensuring compliance with Islamic finance principles, needed when financing involves Islamic banking

2. Local Content Requirements: Provisions addressing Saudi Aramco's In-Kingdom Total Value Add (IKTVA) program or similar requirements, needed for oil and gas sector projects

3. Intellectual Property Rights: Provisions governing IP ownership and licensing, needed when consortium involves technology development or transfer

4. Government Approvals: Specific provisions regarding government licenses and permits, needed for regulated sectors

5. Anti-corruption Compliance: Detailed anti-corruption provisions, needed when dealing with government contracts or high-risk sectors

6. Force Majeure: Provisions for unforeseen circumstances, recommended for long-term or high-value projects

7. Step-in Rights: Rights of members to step in if another member defaults, needed for critical infrastructure projects

8. Environmental Compliance: Environmental protection provisions, needed for construction or industrial projects

Suggested Schedules

1. Schedule 1 - Project Scope: Detailed technical specifications and scope of work

2. Schedule 2 - Consortium Member Contributions: Detailed breakdown of each member's contributions (financial, technical, personnel)

3. Schedule 3 - Governance Procedures: Detailed procedures for meetings, voting, and decision-making

4. Schedule 4 - Financial Protocol: Detailed financial procedures, banking arrangements, and accounting principles

5. Schedule 5 - Performance Guarantees: Form of performance guarantees required from members

6. Schedule 6 - Insurance Requirements: Required insurance coverage and limits

7. Appendix A - Key Personnel: List of key personnel from each consortium member

8. Appendix B - Project Timeline: Detailed project schedule and milestones

9. Appendix C - Communication Protocol: Procedures for formal communications between members

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Applicable Laws
Business Day
Commencement Date
Confidential Information
Consortium
Consortium Committee
Consortium Interest
Consortium Member
Effective Date
Force Majeure Event
Governing Law
Initial Period
Intellectual Property Rights
Lead Member
Local Content Requirements
Material Breach
Member Share
Project
Project Account
Project Manager
Project Schedule
Related Entity
Representatives
Saudi Arabian Riyal
Scope of Work
Services
Shariah Compliant
Steering Committee
Subcontractor
Technical Specifications
Term
Territory
Third Party
Work Product
Working Hours
ZATCA
Zakat
Clauses
Formation and Purpose
Membership
Governance
Decision Making
Financial Contributions
Profit Sharing
Loss Allocation
Voting Rights
Management Structure
Project Execution
Risk Allocation
Liability
Indemnification
Intellectual Property
Confidentiality
Non-Competition
Non-Solicitation
Assignment
Local Content
Shariah Compliance
Force Majeure
Termination
Exit Rights
Step-in Rights
Dispute Resolution
Governing Law
Anti-Corruption
Environmental Compliance
Health and Safety
Insurance
Representations and Warranties
Tax and Zakat
Notices
Amendment
Severability
Entire Agreement
Third Party Rights
Further Assurance
Counterparts
Relevant Industries

Construction and Infrastructure

Oil and Gas

Energy and Utilities

Defense and Aerospace

Technology and Communications

Healthcare

Transportation

Manufacturing

Mining and Minerals

Renewable Energy

Relevant Teams

Legal

Commercial

Business Development

Finance

Operations

Risk and Compliance

Strategy

Technical

Project Management

Corporate Development

Relevant Roles

Chief Executive Officer

Managing Director

Legal Counsel

Contract Manager

Project Director

Business Development Manager

Chief Financial Officer

Commercial Director

Operations Director

Risk Manager

Compliance Officer

Technical Director

Partnership Manager

Strategy Director

General Counsel

Industries
Commercial Law (Royal Decree No. M/32): Primary legislation governing commercial transactions and business relationships in Saudi Arabia, providing framework for business contracts and commercial obligations
Foreign Investment Law (Royal Decree No. M/1): Regulates foreign investment in Saudi Arabia, including participation in joint ventures and consortiums, setting out licensing requirements and restrictions
Government Tenders and Procurement Law (Royal Decree No. M/128): Governs public procurement procedures and requirements for consortiums participating in government contracts
Saudi Labor Law (Royal Decree No. M/51): Regulates employment relationships, including Saudization requirements and worker rights that consortiums must comply with
Islamic Shariah Law Principles: Fundamental legal principles that govern all contracts in Saudi Arabia, ensuring compliance with Islamic finance and business principles
Competition Law (Royal Decree No. M/75): Regulates market competition and prevents monopolistic practices, relevant for consortium formation and operation
Value Added Tax Law (Royal Decree No. M/113): Governs tax obligations for business operations and transactions within Saudi Arabia
Companies Law (Royal Decree No. M/3): Provides legal framework for company formations and business combinations, including consortium arrangements
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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