Business Terms
Teaming Agreement
A written agreement between companies to work together in pursuit of a specific contract opportunity.
In context
How Teaming Agreement works in supplier diversity
Teaming agreements outline roles, responsibilities, and work share for pursuing and performing a contract. They typically specify which company will be prime, subcontractor percentages, and terms for exclusivity. Unlike JVs, teaming arrangements don't create a new legal entity.
Example
Real-world example
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