Partnership Deed

Neutral - 3 Parties

No. of Prokens Required: 3 |

Download Partnership Deed in Word or PDF format

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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 neutral 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.

Each Partner (the Indemnifying Partner) hereby agrees with and undertakes to the other to indemnify the other Partner and to keep it indemnified at all times against all losses, demands, damages, charges, claims, actions, costs, expenses and other liabilities of whatsoever nature suffered or incurred by the other Partner. This is subject to the Indemnifying Partner indemnifying the other Partner to its satisfaction against all losses, liabilities, costs, damages thereby incurred or to be incurred.

The Chief Executive is responsible for producing a draft budget for each accounting period and updating the business plan. The draft budget and updated business plan shall be submitted to the Partnership Board for approval not less than 45 business days before the start of the following accounting period. In any event, the draft budget and business plan (in each case with such amendments as the Partnership Board may agree) shall be adopted by the Partnership Board before the start of the relevant accounting period.

Following any request from the other Partner, each Partner will promptly submit to the Partnership Board all information relating to the affairs of the Partnership in the possession of that Partner and which the requesting Partner may reasonably require.

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

 
Keywords:

partnership

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deed

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3 parties

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three parties

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partners

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general partnership

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