teaming agreement

What is a Teaming Agreement?

A teaming agreement (Teaming Agreement) is a contract between two or more parties (Team Members) that is used to regulate the rights and obligations where one of them pursues a tender or contract with a with a third party (Prime Contract).  Once the Prime Contract is entered into between the third party and Team Member # 1, a sub-contract is executed between Team Member # 1 and the other Team Member(s) to enable Team Member # 1 to discharge its obligations under the Prime Contract.  [Read more…]

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