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 Partnership Deed/ Agreement

Before starting a partnership business, the partners need to come to a common understanding. A typical partnership agreement would include

  • Capital - the amount of capital put in by each partner, which will include both money and equipment and other capital goods.
  • The role and responsibilities of each partner.
  • The apportionment of profits and losses. Is this equal (50/50) and if not how is this split and why?
  • The amount of drawing allowed to each partner.
  • The salary, if nay, to be paid to any partner.
  • There interest, if any, to be allowed on capital and charged on drawing.
  • What are the arrangements in case of dissolving the company, including the retirement, death or long-term illness of a partner.
  • Management of the finances, bank account, signing of cheques and orders
  • Hours of work and holidays allocated.
  • Arrangement for arbitration in the event of disagreement.
Click here to download Sample of Partnership Agreement (PDF)pdf format

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