First Nations Toolkit
BUILDING BUSINESS PARTNERSHIPS BETWEEN INDUSTRY AND FIRST NATIONS
As new major development projects and economic activity begins in Terrace and Northwest BC, we are taking steps to help ensure that these projects proceed as smoothly as possible. The First Nations Joint Venture Partnership Tool Kit enables partnerships between Aboriginal communities and experienced business partners, so that both parties can benefit from the vast development opportunities in the region.
HOW DOES THE TOOLKIT HELP?
2011 and 2012 will see the anticipated start of numerous major industrial development projects that will fuel economic activity in Terrace and Northwest BC. While each project is in varying stages of receiving regulatory approval and commercial support, the total potential investment value of upcoming projects is in the billions (see a list of upcoming projects here).
In order to be successful, these and other development projects will likely require the participation and support from the Aboriginal communities in Northern BC. One way that we help acquire this participation is by sole-sourcing business opportunities to the community as part of a broader compensation and accommodation package. Aboriginal communities are often also looking to establish relationships with experienced business partners so that they can participate in available opportunities.
Section 3 of the Toolkit provides sample agreements and templates for potential use in business agreements. Each of these can be modified to each unique business relationship, as each circumstance will likely require a varied combination of agreements. This includes a: Letter of Understanding, Joint Venture Agreement, Term Sheet, Confidentiality Agreement, and Management Committee Form.