We are providing here a Partnership Contract Template for you to download. Occasionally in order to meet the requirements of a growing business, two or more person may become joint owners thereof, each bringing in certain amount of capital and sharing the profits and losses in agreed proportions. Such a relationship is called partnership and when it is made formal through an agreement such an agreement is called the partnership deed. The essential objective of a partnership deed is to formalize the intent of sharing the profits and losses of a business between the partners in agreed proportions. A partnership deed will ensure that in the event of any difference of opinion between the partners the matter can be taken to court and can be settled based on the court judgment. We hope you will like Partnership Contract Template.
A partnership deed will contain the following clauses: name of the firm and its nature of business, names and addresses of the partners, the duration of the business of the partnership, total capital of the firm and the share of profits attributable to each partner, etc. The partnership will stipulate the interest rates to be allowed on partners’ capitals and to be charged on their drawings from capital. Partners may also be paid salaries for the time and effort extended by them to the business.
Free Partnership Contract and Agreement Template for you. Download it here..