Teaming agreements, while not new, have emerged again as a useful way for companies to pool resources (and share costs) when bidding on increasingly complex contracts, particularly federal government contracts.
Teaming agreements can take many forms, the most common of which is the prime/subcontractor relationship. One party acts as the prime contractor, maintaining the contractual relationship with, for example, a Government customer and assuming all of the associated contractual liability. The other party acts as a subcontractor, maintaining a contractual relationship only with the prime. Typically teaming agreements represent a general framework in which the parties agree to pursue certain contracts, leaving most specific details to be negotiated upon an actual contract award to the party acting as the prime contractor.
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