Wednesday, February 25, 2009

Focus on: Teaming Agreement

A company submitting a bid for a technical project may need to subcontract parts of the project to another company having expertise in a given area. A teaming agreement can be an essential part of the tender process, enabling both the primary company and the subcontracting company to clarify their rights and responsibilities in submitting the tender. The teaming agreement may cover topics such as timing of the tender submission, allocation of responsibilities if the bid is awarded, exclusivity, and price terms.