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Abstract

As the scale of business is becoming bigger and complex, the Joint Venture (JV) projects have increased for the past few decades due to such advantages like economic resources, skill and specialised knowledge which is required for large-scale construction projects.
As the Joint Venture projects are increasing, the number of disputes have also increased. According to previous studies, 1 in 3 JVs ended up in disputes, and it rises even higher in Asia and the Middle East in accordance with a report to be shown in the following chapter. JV disputes occurred due to a number of main reason and those disputes usually involved a massive amount of money. It is thus believed that the analysis of JV disputes is worthy of attention for the dissertation topic.
The research was designed to categorise JV disputes into several numbers of major causes and to analyse the preferred dispute resolution procedure. In order to achieve the aim, a survey was conducted over potential respondents having at least three years experiences in construction industry. Key terms for JV agreements were also dealt with through intensive literature review since significant disputes would be avoided if the JV partners defined the key terms and conditions with clarity.
The main causes of the JV disputes initially narrowed down to eight main issues through various literature review, and the reliability of the deduced main causes was reaffirmed by conducting a survey. As a result of the survey, the respondents frequently experienced disputes over corporate governance, rightful distribution of profit/loss, failure to commit sufficient resources to the JV and cultural difference.
When it comes to the preferred dispute resolution within JV partners, the respondents prefer to resolve their disputes with negotiation prior to referring it to litigation or Alternative Dispute Resolution (ADR)s. Arbitration is considered as the most preferred dispute resolution mechanism by experts and the respondents apart from the negotiation.
The key terms for JV agreements were summarised in six essential terms by reviewing various studies. However, JV partners always keep in mind that the key terms will never be able to embrace all potential problems.

Course: Quantity Surveying - BSc (Hons) - C0150

Date Deposited: 2020-12-17

URI/permalink: https://library.port.ac.uk/dissert/dis13637.html