Partnership Deed

Loose / Light - 3 Parties

No. of Prokens Required: 3 |

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Description:

This partnership deed can be used to draft for establishing a general partnership for three parties under the law of a specified jurisdiction. This deed is drafted to impose looser / lighter obligations on the parties.

This deed provides a basic partnership framework only.

A deed must be witnessed by another person over the age of 18 and the witness cannot be a party to the deed.

Under this deed, Partners are not obliged to provide guarantees to support the Partnership's financing commitments. If they do so, such guarantees shall be given in proportion to each Partner's Percentage Share. The liabilities of the Partners under such guarantees (so far as possible) shall be several and not joint and several.

If a claim is made under any such guarantee against a Partner, it is entitled to such a contribution from the other Partner as will ensure that the aggregate liability is borne by the Partners in their respective Percentage Shares.

How to use this Document?

This document should be carefully read by the Partners in the proposed partnership.

Partners who wish to establish the partnership should complete their personal and business information as much as they could.

Please provide the territory / jurisdiction where the partnership will be formed, the name of the partnership, and the purpose of business of the partnership in creating this deed. The initial capital contribution from each partner and property and assets initially owned by the partnership should also be indicated.

How to Tailor the Document for Your Need?

  1. Create Document: Click “Create Document” button and fill in the details of the parties. You can click the “Fill with Member’s Information” button to complete the party’s information with your personal or business information saved to your account.
  2. Please fill in any additional information by following the step-by-step guide on the left hand side of the preview document and click the “Next” button.
  3. When you are done, click the “Get Document” button and you can download the document in Word or PDF format.
  4. Please get all parties to review the document carefully and make any final modifications to ensure that the details are correct before signing the document. Each party should have a copy of the executed document.
Document Type:

Deed /poa / authorisation / agency / escrow

Category:

Business > Setup of Business / Entity > Partnership / Limited Partnership / LLP Agreement

 
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