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    Partnership Deed Format

    Uploaded by

    Man Singh
    This document establishes a partnership deed between three partners to operate an event management firm under the name NAME OF FIRM. The key terms include: 1) The firm will be operated jointly by the three partners, who will contribute initial capital in a 33.33%, 33.33%, 33.34% ratio respectively. 2) Profits and losses will be shared according to the same ratios after deducting interest and remuneration. 3) The partnership can be dissolved by mutual agreement but will otherwise continue indefinitely, with the rights of any retiring or deceased partner transferring to their nominated beneficiary.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd

    Partnership Deed Format

    Uploaded by

    Man Singh
    44 views3 pages
    This document establishes a partnership deed between three partners to operate an event management firm under the name NAME OF FIRM. The key terms include: 1) The firm will be operated jointly by the three partners, who will contribute initial capital in a 33.33%, 33.33%, 33.34% ratio respectively. 2) Profits and losses will be shared according to the same ratios after deducting interest and remuneration. 3) The partnership can be dissolved by mutual agreement but will otherwise continue indefinitely, with the rights of any retiring or deceased partner transferring to their nominated beneficiary.

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    This document establishes a partnership deed between three partners to operate an event management firm under the name NAME OF FIRM. The key terms include: 1) The firm will be operated jointly by the three partners, who will contribute initial capital in a 33.33%, 33.33%, 33.34% ratio respectively. 2) Profits and losses will be shared according to the same ratios after deducting interest and remuneration. 3) The partnership can be dissolved by mutual agreement but will otherwise continue indefinitely, with the rights of any retiring or deceased partner transferring to their nominated beneficiary.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    44 views3 pages

    Partnership Deed Format

    Uploaded by

    Man Singh
    This document establishes a partnership deed between three partners to operate an event management firm under the name NAME OF FIRM. The key terms include: 1) The firm will be operated jointly by the three partners, who will contribute initial capital in a 33.33%, 33.33%, 33.34% ratio respectively. 2) Profits and losses will be shared according to the same ratios after deducting interest and remuneration. 3) The partnership can be dissolved by mutual agreement but will otherwise continue indefinitely, with the rights of any retiring or deceased partner transferring to their nominated beneficiary.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 3

    PARTNERSHIP DEED

    This Deed of Partnership is executed on this the1st day of August, 2014 between:-

    1. Partner Name S/o Father Name R/o Address (  hereinafter called the Party of First part) ,and

    2. Partner Name S/o Father Name R/o Address (  hereinafter called the Party of Second part) ,and

    3. Partner Name S/o Father Name R/o Address (  hereinafter called the Party of Third part).

    Whereas all the parties have started the business in partnership under  the name and style of NAME OF FIRM
    w.e.f. –August-2014 and will carry on the Profession of Chartered Accountancy from ADDRESS OF FIRM.

    Now this deed of Partnership witnessth as under:-

    1) That the firm shall carry on the business of event management, under the firm with name and style of
    NAME OF FIRM.

    2) That the firm has commenced its business w.e.f. . –August-2014.

    3) Initially the capital required in the business shall be contributed by all the partners in the ratios given below.
    1) PARTNER NAME 33.33 %
    2) PARTNER NAME 33.33 %
    3) PARTNER NAME 33.34 %

    4) That the firm shall maintain its bank account with any Scheduled bank /banks which shall be operated by
    the partners jointly or Singly as mutually decided by the partners in writing  from  time  to time.

    5). That the firm shall maintain its books of account in regular course and accounting period shall be from 1st
    day of April  to 31st  March of the financial year and proper  accounts  will  be drawn every financial year
    which shall be given to every party of this deed.

    6). That Goodwill of the firm name if any, will be shared by each party in their Profit sharing ratio.

    7). That after allowing Interest and Remuneration permissible under Income Tax Act 1956, the profit and loss
    shall be shared by the partners in the following ratio :
    1) PARTNER NAME 33.33 %
    2) PARTNER NAME 33.33 %
    3) PARTNER NAME 33.34 %

    8). That  all working partners of the firm will be  allowed  a yearly remuneration for the professional service
    rendered as may be agreed to between all the Partner , however subject to the provisions under section
    40(b)  of Income Tax Act.
     

    Page 1 of 3
    The partners shall be entitled to increase or reduce the above remuneration and may agree to pay
    remuneration to other working partner or partners as the case may be. The partners may also agree to revise
    the mode of calculating the above said remuneration as may be agreed to by and between the partners from
    time to time, however subject to the provisions under section 40(b) of Income Tax Act.

    9). That in case of any dispute / difference of opinion amongst the partners same shall be referred to a Sole
    arbitrator to be appointed under the Indian Arbitration Act. The decision of the arbitrator shall be binding
    upon all the partners to be appointed mutually by the partners to this deed.

    10). That arbitration proceedings shall take place in Delhi and the Courts of Delhi, shall have the exclusive
    jurisdiction.

    11). That the partnership business will continue to work in the name of NAME OF FIRM.

    12). That no partner shall without the written consent of the other partners:-

    a) Acknowledge a debt so as to extend the period of limitation against the firm except in the ordinary
    course of business.

    b). Except  in  the ordinary course of the  business  give  any security  as promise for the payment of
    money on account  of  the firm.

    c). Assign, charge, mortgage or otherwise alienate his / her shares in the firm.

    d) Shall not deal with the Trademark (if any) of the firm in any manner except with the written permission
    all the other partners.

    13). That matters for which no provision is made in  this  deed shall  be  governed by the provisions of the
    Indian  Partnership Act, 1932.

    14). That  any partner desiring to retire from the  said  firm shall  have  to give three months notices to do so to
    the  other partners.

    That New partner(s) can be taken in the partnership on such terms and conditions as decided by the
    partners mutually.

    15). That in case of retirement/death/incapacitation of any partner, the firm shall not be dissolved. The rights,
    Privileges and shareholding of the said retired/died/incapacitated partner in firm, shall vest in said partner’s
    nominee. Nominee if entitled to enter into partnership and willing to do so may join the firm or may sell
    the share of said partner.
    In case the nominee decides to sell, existing partners will hold the preferential right over any outsider.
    The nomination form will be made available to the other partner for smooth functioning of the partnership
    firm.

    16). That duration of partnership is at Will.

    17). In witness where off the parties hereto have signed this deed on the day and year first written.

    Page 2 of 3
    Witnesses:

    1. Partner Name
    (First Party)

    2. Partner Name
    (Second Party)

    3. Partner Name
    (Third Party)

    Page 3 of 3

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