Partnership Deed

Strict / Tight - 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 strict / tight obligations on the parties.

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

The Partnership Board shall delegate responsibility for day-to-day executive management of the business to the Chief Executive. The appointment and terms of reference of the other Executive Managers will be proposed by the Chief Executive but will be subject to the prior approval of the Partnership Board.

The Chief Executive shall carry out such responsibilities in accordance with the then current Business Plan and Budget and such policies as shall be laid down by the Partnership Board. The Chief Executive is responsible to the Partnership Board and shall be assisted in his duties by the other Executive Managers.

The property and assets of the Partnership shall be beneficially owned by the Partners in the proportions of their respective Percentage Shares and shall comprise all property (whether tangible or intangible) owned, developed, produced, created or acquired by the Partners in the course of the Partnership.

Any property of the Partnership which is held by one of the Partners (or an Affiliate) shall be held by that Partner (or Affiliate) on trust for the benefit of the Partnership. That Partner shall (if required) enter into or procure appropriate declarations of trust in respect of the property.

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:

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Author:

DocPro Legal

DocPro Legal is a team of legal professionals with a passion for making quality documents and legal contract templates widely available to the public through cutting edge technology. Our lawyers are qualified in numerous common law jurisdictions including the United Kingdom, Australia, New Zealand, India, Singapore and Hong Kong. We have experience in major law firms and international banks with expertise in business, commercial, finance, banking, litigation, family, succession and company laws.

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