Edit Partnership Agreement - LegalDocs.pk

This Partnership Agreement is made on [PartnershipAgreementDateUnique] between Mr./Mrs. [FirstPartnerFullNameUnique], son/daughter of [FirstPartnerFatherNameUnique], CNIC No. [FirstPartnerCNICUnique], resident of [FirstPartnerAddressUnique] (hereinafter referred to as the “First Partner”), and Mr./Mrs. [SecondPartnerFullNameUnique], son/daughter of [SecondPartnerFatherNameUnique], CNIC No. [SecondPartnerCNICUnique], resident of [SecondPartnerAddressUnique] (hereinafter referred to as the “Second Partner”).

WHEREAS the parties agree to enter into a partnership business under the name and style of [BusinessNameUnique].

NOW THIS AGREEMENT WITNESSETH AS UNDER:

1. BUSINESS: The partnership business shall be [BusinessNatureUnique] and shall be conducted at [BusinessAddressUnique].

2. CAPITAL: The initial capital shall be PKR [TotalCapitalUnique], contributed as follows: First Partner PKR [FirstPartnerShareUnique], Second Partner PKR [SecondPartnerShareUnique].

3. PROFIT & LOSS: The net profit and loss shall be shared as follows: First Partner [FirstPartnerProfitRatioUnique]% and Second Partner [SecondPartnerProfitRatioUnique]%.

4. MANAGEMENT: Both partners shall actively participate in the management of the business unless otherwise agreed.

5. BANK ACCOUNT: A joint bank account shall be maintained in the name of the partnership at [BankNameUnique].

6. DURATION: This partnership shall commence on [PartnershipStartDateUnique] and continue until terminated.

7. TERMINATION: Either partner may terminate this agreement by giving [PartnershipNoticePeriodUnique] written notice.

8. LIABILITY: All liabilities shall be borne by the partners according to their profit-sharing ratio.

9. GOVERNING LAW: This agreement shall be governed by the laws of Pakistan.

IN WITNESS WHEREOF, the partners have signed this agreement on the date first written above.

FIRST PARTNER:

Signature: __________________________

Name: [FirstPartnerSignNameUnique]

CNIC: [FirstPartnerSignCNICUnique]

SECOND PARTNER:

Signature: __________________________

Name: [SecondPartnerSignNameUnique]

CNIC: [SecondPartnerSignCNICUnique]

WITNESSES:

1. Name: [PartnershipWitnessOneNameUnique]

CNIC: [PartnershipWitnessOneCNICUnique]

Signature: ________________________

2. Name: [PartnershipWitnessTwoNameUnique]

CNIC: [PartnershipWitnessTwoCNICUnique]

Signature: ________________________