Format
of Partnership Deed Agreement 2025
This Deed of Partnership is executed on
this the ………day of ………, 20……. by and amongst:-
this the ………day of ………, 20……. by and amongst:-
1.…………………………….. S/o ………………………….. residing at …………… ………….. (hereinafter
referred to as party of the first part);
referred to as party of the first part);
AND
2.………………………… S/o ………………………… residing at ………………… (hereinafter
referred to as party of the second part).
referred to as party of the second part).
WHEREAS the parties above named intend to
carry on the business in partnership in the name and style of ……………………………… vide this Deed of Partnership.
carry on the business in partnership in the name and style of ……………………………… vide this Deed of Partnership.
AND WHEREAS all the parties referred to above
hereby desire that the terms and conditions be reduced in writing to do away
any avoidable disputes and misunderstanding that may arise in future.
hereby desire that the terms and conditions be reduced in writing to do away
any avoidable disputes and misunderstanding that may arise in future.
NOW THEREFORE THIS PARTNERSHIP DEED
WITNESSETH AS UNDER :
WITNESSETH AS UNDER :
1. That
the partnership business shall be carried on under the name and style of ………………………………...
the partnership business shall be carried on under the name and style of ………………………………...
2. That
the business of the partnership firm ………………………………………… (Business object)
or any other business as may be decided from time to time mutually by all the
partners to this Deed.
the business of the partnership firm ………………………………………… (Business object)
or any other business as may be decided from time to time mutually by all the
partners to this Deed.
3. That
Head Office of the partnership firm will be at ……………………… (address
of the firm).The principal place of business may be shifted to such
other place or places as the partners may unanimously decide from time to time.
Head Office of the partnership firm will be at ……………………… (address
of the firm).The principal place of business may be shifted to such
other place or places as the partners may unanimously decide from time to time.
4. That
any branch may be opened under any name and style at such place or places as
the partners may decide from time to time.
any branch may be opened under any name and style at such place or places as
the partners may decide from time to time.
5. That
the terms and conditions of the partnership shall be deemed to have been
commenced with effect from the ………day of …………, 20…...
the terms and conditions of the partnership shall be deemed to have been
commenced with effect from the ………day of …………, 20…...
6. That
the capital required for the partnership shall be contributed by the partners
as mutually agreed upon amongst the partners.
the capital required for the partnership shall be contributed by the partners
as mutually agreed upon amongst the partners.
7. That
the regular books of accounts of the partnership shall be maintained at the
place of business which shall be closed on……………………each year and each partner shall have access to and
power to have copies of the same. All the transactions entered into by them on
behalf of the firm shall be faithfully recorded therein.
the regular books of accounts of the partnership shall be maintained at the
place of business which shall be closed on……………………each year and each partner shall have access to and
power to have copies of the same. All the transactions entered into by them on
behalf of the firm shall be faithfully recorded therein.
8. That
at the end of each accounting year, the firm’s accounts shall be drawn up and
the Profit & Loss Account and the Balance Sheet of the firm prepared and
the Profit and/or losses falling to the share of each partner shall be credited
or debited to the respective accounts.
at the end of each accounting year, the firm’s accounts shall be drawn up and
the Profit & Loss Account and the Balance Sheet of the firm prepared and
the Profit and/or losses falling to the share of each partner shall be credited
or debited to the respective accounts.
9. That
the Profit and Loss Account and the Balance Sheet shall be duly signed by any
two partners and upon signing the same shall be binding and final.
the Profit and Loss Account and the Balance Sheet shall be duly signed by any
two partners and upon signing the same shall be binding and final.
10. That
the Profits and Losses as per Profit and Loss Account of the partnership
business shall be divided amongst the partners as under.
the Profits and Losses as per Profit and Loss Account of the partnership
business shall be divided amongst the partners as under.
1. ……………… …………%
(Party of the First part)
2. …………………….
(Party of the Second part) ………….%
11. That the bank account(s) of the
partnership shall be operated by any of the partner to this deed or as may be
mutually decided time to time.
partnership shall be operated by any of the partner to this deed or as may be
mutually decided time to time.
12. No partner, without the written consent
of the all the other partners shall do or abet in doing any of the following
acts:-
of the all the other partners shall do or abet in doing any of the following
acts:-
(i) Sell, mortgage, assign or otherwise transfer his share or
interest in the partnership business or property.
interest in the partnership business or property.
(ii) Charge, mortgage, hypothecate, assign or otherwise transfer
the business, property or rights of this partnership firm.
the business, property or rights of this partnership firm.
13. That the partnership is “AT
WILL”and can be dissolved at any time with the mutual consent of all
the parties to this deed.
WILL”and can be dissolved at any time with the mutual consent of all
the parties to this deed.
14. That all the parties to this deed
shall work diligently and faithfully to the common advantages of the firm and
shall render true and correct information to each other.
shall work diligently and faithfully to the common advantages of the firm and
shall render true and correct information to each other.
15. That any consent or difference which
may arise between the partners or their legal heirs, successors or
representatives with regard to the construction, meaning and effect to this
deed and/or any part thereof or in respect of the accounts, profits or losses
of the business of the said firm or any other matter relating to the firm shall
be referred to arbitration under the Indian Arbitration Act, 1940.
may arise between the partners or their legal heirs, successors or
representatives with regard to the construction, meaning and effect to this
deed and/or any part thereof or in respect of the accounts, profits or losses
of the business of the said firm or any other matter relating to the firm shall
be referred to arbitration under the Indian Arbitration Act, 1940.
16. That the provisions of the Indian
Partnership Act, 1932 shall apply as regards matters not
expressly provided for herein before in this partnership deed.
Partnership Act, 1932 shall apply as regards matters not
expressly provided for herein before in this partnership deed.
17.That any of the above terms,
conditions and stipulations may be altered, varied or added to by mutually
taking the consent of all the partners in writing.
conditions and stipulations may be altered, varied or added to by mutually
taking the consent of all the partners in writing.
18. That all business expenses shall be
borne by the Partnership Firm.
borne by the Partnership Firm.
19. The powers and duties of the
Partners, which shall be exercised at their sole discretion with mutual consent
(written/verbal) from partners, shall include but not be limited to the below:
Partners, which shall be exercised at their sole discretion with mutual consent
(written/verbal) from partners, shall include but not be limited to the below:
– To
convert this partnership Firm in LLP or Pvt. Ltd. or Ltd. Company as and when
Partner opts to do so.
convert this partnership Firm in LLP or Pvt. Ltd. or Ltd. Company as and when
Partner opts to do so.
– To
acquire, purchase, takeover and /or amalgamate business or undertakings of
companies or firms which under existing circumstances, from time to time, may
conveniently or advantageously be combined with the business of the firm, to
amalgamate or merge with companies whose business are so acquired, purchased or
taken over and/or to enter into any agreement with the object of acquisition of
such undertaking and/or business.
acquire, purchase, takeover and /or amalgamate business or undertakings of
companies or firms which under existing circumstances, from time to time, may
conveniently or advantageously be combined with the business of the firm, to
amalgamate or merge with companies whose business are so acquired, purchased or
taken over and/or to enter into any agreement with the object of acquisition of
such undertaking and/or business.
– To
go into acquisition, purchase, takeover and/or amalgamate of other entities or
vice versa as and when Partner opts to do so.
go into acquisition, purchase, takeover and/or amalgamate of other entities or
vice versa as and when Partner opts to do so.
– To
sell, mortgage, assign or lease and in any other manner feel with or dispose
off the firm or properties of the firm or any part thereof, whether movable or
immovable for such consideration as the Partners of the firm may think fit.
sell, mortgage, assign or lease and in any other manner feel with or dispose
off the firm or properties of the firm or any part thereof, whether movable or
immovable for such consideration as the Partners of the firm may think fit.
– To
sell, mortgage, assign, lease or dispose off the properties/assets of the firm
(including movable and immovable) to any person, company or other entity at
mutually agreed prices by the partners.
sell, mortgage, assign, lease or dispose off the properties/assets of the firm
(including movable and immovable) to any person, company or other entity at
mutually agreed prices by the partners.
20.That the capital required for the
business of Partnership shall be contributed time to time by the PARTIES in
such manner in all respect as may be agreed to between them. A simple interest
@ __% p.a. shall be payable by the firm to the parties.
business of Partnership shall be contributed time to time by the PARTIES in
such manner in all respect as may be agreed to between them. A simple interest
@ __% p.a. shall be payable by the firm to the parties.
21. That
any partner may draw salary, remuneration and or commission for working in the
partnership firm as agreed upon between the partners.
any partner may draw salary, remuneration and or commission for working in the
partnership firm as agreed upon between the partners.
22.That the books of accounts and other
documents belonging to the firm shall be kept at the place of business only and
shall at all reasonable times, be open for inspection by any of the parties or
his authorized agent.
documents belonging to the firm shall be kept at the place of business only and
shall at all reasonable times, be open for inspection by any of the parties or
his authorized agent.
23. The written consent of all Partners
will be required for the partnership to avail credit facilities from any
financial institution.
24.All
notices required to be given to either partner hereunder shall be deemed to be
duly served if addressed to such partner at the office of the firm and sent by
registered post.
will be required for the partnership to avail credit facilities from any
financial institution.
24.All
notices required to be given to either partner hereunder shall be deemed to be
duly served if addressed to such partner at the office of the firm and sent by
registered post.
25. That the matters for which no
provisions have been made in this deed may be decided upon by mutual consent of
the parties in writing.
provisions have been made in this deed may be decided upon by mutual consent of
the parties in writing.
26. That all provisions of the Partnership Act, 1932 are applicable in dealing with the
matters of partnership firm which are not specifically mentioned in the partnership
deed.
matters of partnership firm which are not specifically mentioned in the partnership
deed.
IN WITNESS WHEREOF the partners above mentioned have set
their hands in token of execution of partnership deed after careful
consideration, taking legal aid, consulting wellwishers, read over the contents
of the deed and understanding the same with their free will and gave consent on
the ___ day and the _____ year first above written.
their hands in token of execution of partnership deed after careful
consideration, taking legal aid, consulting wellwishers, read over the contents
of the deed and understanding the same with their free will and gave consent on
the ___ day and the _____ year first above written.
…………………………
(Party of the First part)
………………………
(Party of the Second Part)
WITNESSES :
1. ……………………
WITNESSES :
1. ……………………
2. …………….……….
The above draft format of Partnership Deed Agreement is only for reference purpose kindly make necessary changes as per your need and requirement.
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