Partnership Deed Format

Description

Partnership Deed

1. Partner 1 Name, residing at Partner 1 Address,
2. Partner 2 Name, residing at Partner 2 Address,

1. Name and Business:

The Partners hereby form a partnership under the name of [Partnership Name] for the purpose of [Describe Business Activity].

2. Principal Place of Business:

The principal place of business of the partnership shall be located at [Business Address].

3. Duration:

The partnership shall commence on [Start Date] and shall continue until terminated as provided herein.

4. Capital Contribution:

Each Partner shall contribute the following initial capital:
Partner 1 Name: Amount
Partner 2 Name]: $Amount

5. Profit and Loss Sharing

Profits and losses arising from the business shall be shared equally between the Partners or in proportion to their capital contributions as follows:
Partner 1 Name   Percentage%
Partner 2 Name  Percentage%

6. Management and Duties:

The management of the partnership shall be conducted by [Designated Partner(s) or Both Partners]. Each Partner shall devote their full time and attention to the business of the partnership.

7. Banking:

All funds of the partnership shall be deposited in its name in such bank accounts as shall be designated by the Partners. Withdrawals from such accounts shall be made upon the signatures of [Authorized Partner(s)].

8. Admission of New Partners:

New partners may be admitted only with the unanimous consent of all existing Partners.

9. Retirement, Death, or Incapacity of a Partner:

In the event of the retirement, death, or incapacity of a Partner, the remaining Partner(s) shall have the option to purchase the interest of such Partner in the partnership.

10. Dissolution:

The partnership may be dissolved by mutual consent of the Partners. Upon dissolution, the assets of the partnership shall be liquidated and distributed among the Partners according to their respective shares.

11. Governing Law:

This Partnership Deed shall be governed by and construed in accordance with the laws of [State/Country].

IN WITNESS WHEREOF, the Partners have executed this Partnership Deed on the day and year first above written.

_________________________
[Partner 1 Name]

_________________________
[Partner 2 Name]

Witness:

_________________________
[Witness Name]

_________________________
[Witness Name]