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Partnership Deed


Overview

A Partnership Deed is a kind of written agreement between two or more people who agree to be the co-owners, distribute responsibilities for running an organization and share the income or losses that the business generates. It protects the rights and liabilities of the parties involved and helps avoid conflicts between parties involved.

 

Partnership Deed Contents

For a general partnership deed below mentioned information should be included:

  • The Partnership Firm name accepted by all the partners should be mentioned. The name should not have titles like “company” or “private company”
  • Business nature should be mentioned
  • The origin date of the business
  • Headquarters and branches address
  • Duration of Partnership (if applicable)
  • Partner’s contribution to the capital, Profit sharing ratio, and Salary to be mentioned
  • Rules regarding an operation of Bank Accounts;
  • The rate of interest on capital, loan, drawings, etc;
  • Mode of auditor’s appointment, if any;
  • Salaries, commission, etc, if payable to any partner;
  • The rights, duties, and liabilities of each partner;
  • Treatment of loss arising out of insolvency of one or more partners;
  • Settlement of accounts on the dissolution of the firm;
  • Method of a settlement of disputes among the partners;
  • Rules to be followed in case of admission, retirement, the death of a partner; and
  • Any other matter relating to the conduct of business. Normally, all the matters affecting the relationship of partners amongst themselves are covered in partnership deed.

Sabkuch Legal is one of the best in the domain in drafting and reviewing Partnership deeds.

Benefits of Partnership Deed

The benefits of Partnership Deed are mentioned below:

  1. It protects the rights of parties involved.
  2. It clearly specifies the obligations of parties involved.
  3. It is instrumental in preventing occurrence of future conflicts.
  4. It facilitates trust between parties.

Procedure

procedure for partnership deed

Frequently Asked Questions

What is Partnership Deed?

A Partnership Deed is a kind of written agreement between two or more people who agree to be the co-owners, distribute responsibilities for running an organization and share the profit or losses that the business generates.

What is the main benefit of the Partnership Deed?

The main benefits of Partnership Deed are:

  • It controls and monitors the rights, responsibilities, and liabilities of all the partners.
  • Avoids confusion on profit and loss distribution ratio among the partners.

Does Sabkuch Legal review already drafted Partnership Deed?

Yes. Besides drafting, we review already drafted Partnership Deed.

How long does it take to draft Partnership Deed?

We try our best to complete your task in the shortest possible time

Why Choose Us

Why choose us for Partnership deed

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