JOINT VENTURE AGREEMENT

(Prayash-Sita Construction JV)

This Joint Venture agreement (hereinafter referred to as “Agreement”) made and entered into on 2080-12-04
BY Bhim
M/S Sita Construction Having its registered of ice at Tarkeshwor-7, Kathmandu, Nepal (hereinafter referred
to as “Sita Construction”).

M/S Prayash Construction Pvt Ltd Having its registered of ice at ward no. 04, Nagarjun Municipality,
Kathmandu, Kathmandu, Nepal (hereinafter referred to as “Prayash”). AND

WHEREAS Kathmandu Metropolitan City, Office of the Municipal Executive, KMC Ward 7, Mitrapark
Bagma Province, Nepal (hereina er called employer) has invited the bid for construction of Mitra
Mandal Puna Nirman, KMC-7 Contract Identi ication No.: 02-04-080-81-NCBW-Ward7-KMC

WHEREAS the above-mentioned parties are experienced civil contractors having lots of experiences in
construction ield and are desirous and have agreed to apply jointly for quali ication, bidding, construction,
execution, and maintenance of the above-mentioned work.

NOW THEREFORE, in consideration of the mutual covenants contained herein, all the parties involved herein
agree as follows:

1. The name of the Joint Venture will be Prayash-Sita Construction JV

2. The address of the joint venture will be Nagarjun-4, Kathmandu, Nepal
3. The Lead Partner of This Joint Venture is Prayash Construction Pvt Ltd.
4. The partner of the Joint Venture shall be jointly and severally liable for the execution of the Contract. All the
Parties have agreed that a board consisting of representatives from each party will be formed which will be
responsible for overall management of the job in order to ful ill all contractual obligations to complete the job
within the stipulated period.
5. All the parties have agreed that the contribution of each party to this contract will be as below &the return
from this contract and the loss will also be shared as per each party’s contribution.
M/S Prayash Construction Pvt Ltd. 51% (Fifty One Percent)
M/S Sita Construction. 49% (Fourty Nine Percent)

6. All the expenses involved in execution of Contract shall be borne by each party in proportion to
their participation ratio as explained on clause No. 5.
7. Matters not stipulated in this agreement shall be decided between the parties mutually from time
to time. Matters provided under this agreement or any of its terms and conditions may be amended.

IN WITNESS HERE OF the Par es hereto have executed this Agreement on the day and year first
hereinabove wri en.

…… …………………… . ……………… … … … … …. .
Mr. Pradip Kandel Mr. Bhim Bahadur Shrestha
Proprietor Proprietor
Prayash Construction Pvt Ltd. Sita Construction.
 Prayash-Sita Construc on JV
Nagarjun-4, Kathmandu Nepal

To Date: 2080-12-04
Kathmandu Metropolitan City
Office of Municipal Executive
KMC Ward 7, Mitrapark
Kathmandu, Nepal
Sub: Power of Attorney

Dear sir/Madam,
We, the undersigned, Joint Venture Partners of Prayash-Sita Construc on JV do hereby authorize Mr. Bhim
Bahadur Shrestha, Proprietor of Sita Construc on (Hereina er called Authorized Partner) to exercise all
or any of the powers for and on behalf of the Joint Venture regarding construction of Mitra Mandal
Puna Nirman, KMC-7 Contract Iden fica on No.: 02-04-080-81-NCBW-Ward7-KMC
Undertake the following acts:

 To submit or participate in the aforesaid bid, modify the submitted bid, withdraw the
submitted bid, if necessary, for and on behalf of the Joint Venture,
 To sign and submit documents/ submit papers, deal, and negotiate with the employer the
terms and conditions for the award of the contract, sign the contract with the employer for
and on behalf of the Joint Venture.
 To submit performance and advance payment guarantee for and on behalf of the Joint
Venture,
 To receive, accept, and execute the contract for and on behalf of the Joint Venture
 To submit the running bills, receive payment from the employer and opening of bank
accounts, receive retention money after completion of the work from the employer, receive
bank loans, contract loan and any type of loan for the purpose of execution and completion
of the contract etc. for and on behalf of the Joint Venture.

It is expressly understood that this Power of Attorney shall remain valid, binding, and irrevocable till
completion of the Defect Liability Period in terms of the Contract.

……………………………………………………………………
Specimen Signature of Bhim Bahadur Shrestha

…… …………………… . ……………… … … … … …. .
Mr. Pradip Kandel Mr. Bhim Bahadur Shrestha
Proprietor Proprietor
Prayash Construction Pvt Ltd. Sita Construction.