No pain, no gain – English court finds that interim payments under a joint venture contract should not be adjusted for cost overruns

Construction companies entering into joint venture (JV) contracts should be cautious of entering into agreements where the responsibility for, and timing of cost overruns is not tightly specified, to avoid unexpected surprises.

In Doosan Enpure Limited v. Interserve Construction Limited [2019] EWHC 2497 (TCC), Mrs. Justice Jefford made obiter comments that should cause parties to reflect on their obligations under contracts under the NEC3 Option C contract.

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