Sample Partnership Deed/ Agreement
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Sample Partnership Deed/ Agreement
This Partnership Agreement is made on [
Insert Date
]between[
Insert Name of Party 1
] and [
Ins ert Name of arty 2]
.
Name and Business
The parties hereby form a partnership under the name of [
I nsert Business Name
] to produce [
Insert Business
Product/Service
]. The principal office of the business shall be [
Insert Address
Term
The partnership shall begin on [
Insert Date
], and shall continue until terminated.
Capital
The capital of the partnership shall be contributed in cash by the partners as follows:
A separate capital account shall be maintained for each partner.
Neither partner shall withdraw any part of their capital account.
Upon the demand of either partner, the capital accounts of the partners shall be maintained at all
times in the proportions in which the partners share in the profits and losses of the partnership.
Profit and Loss
The net profits of the partnership shall be divided equally between the partners and the net losses
shall be borne equally by them. A separate income account shall be maintained for each partner.
Partnership profits and losses shall be charged or credited to the separate income account of each
partner. If a partner has no credit balance in their income account, losses shall be charged to their
capital account.
Salaries and Withdrawals
Neither partner shall receive any salary for services rendered to the partnership. Each partner may,
from time to time, withdraw the credit balance in their income account.
Interest
No interest shall be paid on the initial contributions to the capital of the partnership or on any
subsequent contributions of capital.
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