Joint ventures may be established as a joint venture or consortium. In a joint venture, the partners undertake the entire work together and are jointly and severally liable towards the contracting authority; in a consortium, each partner is responsible for the part of the work falling within its own area of expertise. A joint venture declaration is submitted at the tender stage, while a notarised joint venture agreement is submitted at the contract stage. The minimum shareholding ratio of the lead partner and the extent to which qualification documents are required for each partner are specified in the tender documents.
Legal basis: Law No. 4734, Art. 14