Teaming agreements, used by prime contractors and subcontractors to agree to use their combined resources to bid on a prospective contract, have caused some headaches among contractors. In a recent Virginia case, Navar, Inc. v. Federal Business Council, Inc., the parties entered into a teaming agreement which was ultimately found unenforceable as a binding contract due to the use of unspecific language and general terms. This case serves as a reminder to use caution when drafting teaming agreements. Always use proper documentation for agreements and be specific in the language used. Read more on the case here.
Source: FindLaw
Got an interesting Fast Fact for a business audience? Please send and share it with our 1,653 subscribers. Click here to subscribe to Read|Delete and receive fast facts delivered weekly.
mmercurio@offitkurman.com | 301.575.0332 | Biz Tek Today
You can connect with Offit Kurman via our Blog, Facebook, Twitter, Google+, YouTube, and LinkedIn pages. You can also sign up to receive Law Matters, Offit Kurman’s monthly newsletter covering a diverse selection of legal and corporate thought leadership content.
