This document may be used by parties that may be all architects, all engineers, a combination of architects and engineers, or another combination of professionals. It is intended to be used by two or more parties to provide for their mutual rights and obligations when a joint venture is to be formed, and, once the venture is established, the parties will enter into an agreement with the owner to provide professional services.
The document allows for two methods of joint venture operation.
The "Division of Compensation" method divides the services provided and the compensation received amongst the parties in a proportion initially agreed to at the onset of the project. Each party's profitability is then dependent on individual performance of pre-assigned tasks and is not directly tied to that of the other parties.
The "Division of Profit and Loss" method is based on each party performing work and billing the joint venture at cost plus a nominal amount for overhead. The profit or loss of the joint venture is divided between or among the parties at completion of the project, based on their respective interests.
C101–1993 was renumbered only in 2007; its content remains the same as in C801–1993.
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