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Sample Partnership Deed 
Prepared by, 
Syed Anas Abdali 
Submitted to, 
Miss.Sidrah Farooq 
Dated: 13th Feb, 2014. Semester: DBA-Spring-14
Partnership Agreement 
THIS PARTNERSHIP AGREEMENT is made this __________ day of ___________, 20__, 
by and between the following individuals: 
Name of the partner 1 
Address: _________________________ 
_________________________________ 
_________________________________ 
CNIC Number :_____________________ 
Name of the partner 2 
Address: _________________________ 
_________________________________ 
_________________________________ 
CNIC Number :_____________________ 
Name of the partner 3 
Address: _________________________ 
_________________________________ 
_________________________________ 
CNIC Number :_____________________ 
The Partners wish to set forth, in a written agreement, the terms and conditions by which 
they will associate themselves in the Partnership.
NOW, THEREFORE, in consideration of the promises contained in this Agreement, the 
Partners affirm in writing their association as a partnership in accordance with the following 
provisions: 
1. Nature of Business: The partners listed above hereby agree that they shall be 
considered partners in business for the following purpose: 
_________________________________________________________________________ 
_________________________________________________________________________ 
_________________________________________________________________________ 
2. Name: The partnership shall be conducted under the name of ________________ and 
shall maintain offices at [STREET ADDRESS], [CITY, STATE, and ZIP]. 
3. Purpose: 
The purpose of the Partnership shall be to ___Business Description___. The Partnership 
may also engage in any and every other kind or type of business, whether or not pertaining 
to the foregoing, upon which the Partners may at any time or from time to time agree. 
4. Term: 
The Partnership shall commence as of the date of this Agreement and shall continue until 
terminated as provided herein. 
5.Relationships: 
5.1 Principles of partnership: 
All members are expected to agree to our principles of partnership. These are set 
out at Annex A. 
5.2 Structure: 
The partnership consists of the whole partnership group plus the following sub 
groups. The partnership group will be chaired by insert partner who will chair. The 
chair will be elected annually by the partnership. 
5.3 Membership:
The partnership consists of the individuals/organizations listed above under details of 
partners. The lead partner is insert name. New members may be brought into the 
partnership explain how 
5.4 Communications: 
The partnership will meet give frequency. A draft agenda for meetings will be sent 
out a week in advance and each partner should let the chair know whether or not 
they have additional items. Notes of meetings will be sent out state how soon after 
the meeting by insert that is responsible. Outside of these meetings we will 
communicate by email. Explain if there are to be any reports sent between meetings 
and by whom. 
5.5 Decision making: 
The main partnership group will make decisions. Where possible we will try to 
achieve a consensus. If we do vote on any issue the decision will be carried by a 
majority vote. 
5.6 Resolving problems: 
Where there is a conflict, dispute of difference within the partnership, in the first 
place we will try to resolve the matter through senior managers of the parties 
concerned. If there is still no resolution then we will involve a third party. This will be 
another member of the partnership / the accountable body / the funding body / an 
independent body. 
6.Membership roles and responsibilities: 
6.1 Range of services: 
Each partner will deliver the services as set out in Annex B 
6.2 Attendance at partnership meetings & sub groups: 
All partners are expected to attend partnership meetings and where possible send 
the same representative each time to ensure continuity. If a partner is unable to
attend then the onus is on them to find out what was discussed and agreed at the 
meeting. 
6.3 Quality standards: 
The partnership will adopt the following quality standards and all partners are 
expected to comply with these 
6.4 Sub contracting (if relevant): 
State whether or not sub contracting is allowed 
6.5 Insurance requirements: 
Each partner is responsible for maintaining relevant insurance policies including 
public liability, employer’s liability and professional indemnity 
6.6 Health and safety: 
Each partner is responsible for the health and safety of their staff, volunteers and 
beneficiaries (where relevant) in accordance with their health and safety policy and 
should have suitable risk assessment systems. 
6.7 Data protection: 
All partners should comply with the requirements of the data protection act 
6.8 Equal opportunities: 
All partners must have a written equal opportunities policy that outlines the 
arrangements that are in place to ensure staff; volunteers and beneficiaries are 
treated fairly and protected from bullying and harassment. 
7. Financial arrangements:
7.1 Details of funding: 
Explain how much money the partnership has and where it comes from 
Name Of Partner Capital 
Contribution 
Agreed-Upon 
Cash 
% Share 
7.2 Payments and claims: 
Explain the process for making claims and payments (if applicable). This could 
mirror what the funder expects 
7.3 Overpayments: 
Explain what will happen if too much is paid in error 
7.4 Profits and Losses: 
Until modified by mutual consent of all the Partners, the profits and losses of the Partnership 
and all items of income, gain, loss, deduction, or credit shall be shared by the Partners in the 
following proportions: 
Sr. 
No. 
Partner Name 
Partner Share Profit/Loss 
1. 
2. 
3. 
8. Books and Records of Account: 
The Partnership books and records shall be maintained at the principal office of the 
Partnership and each Partner shall have access to the books and records at all reasonable 
times.
9. Future Projects: 
The Partners recognize that future projects for the Partnership depend upon many factors 
beyond present control, but the Partners wish to set forth in writing and to mutually 
acknowledge their joint understanding, intentions, and expectations that the relationship 
among the Partners will continue to flourish in future projects on similar terms and conditions 
as set forth in this Agreement, but there shall be no legal obligations among the Partners to 
so continue such relationship in connection with future projects. 
10. Time and Salary: 
Until and unless otherwise decided by unanimous agreement of the Partners, [Time 
Commitment]. Each Partner shall nonetheless be expected to devote such time and 
attention to Partnership affairs as shall from time to time be determined by agreement of the 
Partners. No Partner shall be entitled to any salary or to any compensation for services 
rendered to the Partnership or to another Partner. 
11. Transfer of Partnership Interests: 
A. Restrictions on Transfer. None of the Partners shall sell, assign, transfer, mortgage, 
encumber, or otherwise dispose of the whole or part of that Partner's interest in the 
Partnership, and no purchaser or other transferee shall have any rights in the Partnership as 
an assignee or otherwise with respect to all or any part of that Partnership interest attempted 
to be sold, assigned, transferred, mortgaged, encumbered, or otherwise disposed of, unless 
and to the extent that the remaining Partner(s) have given consent to such sale, assignment, 
transfer, mortgage, or encumbrance, but only if the transferee forthwith assumes and agrees 
to be bound by the provisions of this Agreement and to become a Partner for all purposes 
hereof, in which event, such transferee shall become a substituted partner under this 
Agreement. 
B. Transfer Does Not Dissolve Partnership. No transfer of any interest in the Partnership, 
whether or not permitted under this Agreement, shall dissolve the Partnership. No transfer, 
except as permitted under Subsection 9.A. above, shall entitle the transferee, during the 
continuance of the Partnership, to participate in the management of the business or affairs of 
the Partnership, to require any information or account of Partnership transactions, or to 
inspect the books of account of the Partnership; but it shall merely entitle the transferee to 
receive the profits to which the assigning Partner would otherwise be entitled and, in case of 
dissolution of the Partnership, to receive the interest of the assigning Partner and to require 
an account from the date only of the last account agreed to by the Partners.
12. Death, Incompetency, Withdrawal, or Bankruptcy: 
Neither death, incompetency, withdrawal, nor bankruptcy of any of the Partners or of any 
successor in interest to any Partner shall operate to dissolve this Partnership, but this 
Partnership shall continue as set forth in Section 3, subject, however, to the following terms 
and conditions: 
A. Death or Incompetency: 
In the event any Partner dies or is declared incompetent by a court of competent jurisdiction, 
the successors in interest of that Partner shall succeed to the partnership interest of that 
Partner and shall have the rights, duties, privileges, disabilities, and obligations with respect 
to this Partnership, the same as if the successors in interest were parties to this Agreement, 
including, but not limited to, the right of the successors to share in the profits or the burden to 
share in the losses of this Partnership, in the same manner and to the same extent as the 
deceased or incompetent Partner; the right of the successors in interest to continue in this 
Partnership and all such further rights and duties as are set forth in this Agreement with 
respect to the Partners, the same as if the words "or his or her successors in interest" 
followed each reference to a Partner; provided, however, that no successor in interest shall 
be obligated to devote any service to this Partnership and, provided further, that such 
successors in interest shall be treated as holding a passive, rather than active, ownership 
investment. 
B. Payments Upon Retirement or Withdrawal of Partner: 
(1) Amount of Payments. Upon the retirement or withdrawal of a Partner, that Partner or, in 
the case of death or incompetency, that Partner's legal representative shall be entitled to 
receive the amount of the Partner's capital account (as of the end of the fiscal year of the 
Partnership next preceding the day on which the retirement or withdrawal occurs) adjusted for 
the following: 
(i) Any additional capital contributions made by the Partner and any distributions to or 
withdrawals made by the Partner during the period from the end of the preceding 
fiscal year to the day on which the retirement or withdrawal occurs; 
(ii) The Partner's share of profits and losses of the Partnership from the end of the 
preceding fiscal year of the Partnership to the day on which the retirement or 
withdrawal occurs, determined in accordance with generally accepted accounting 
principles, consistently applied; and 
(iii) The difference between the Partner's share of the book value of all of the 
Partnership assets and the fair market value of all Partnership assets, as determined 
by a fair market value appraisal of all assets. Unless the retiring or withdrawing 
Partner and the Partnership can agree on one appraiser, three (3) appraisers shall be 
appointed--one by the Partnership, one by the retiring or withdrawing Partner, and 
one by the two appraisers thus appointed. All appraisers shall be appointed within 
fifteen (15) days of the date of retirement or withdrawal. The average of the three 
appraisals shall be binding on all Partners. 
(2) Time of Payments. Subject to a different agreement among the Partners or successors 
thereto, the amount specified above shall be paid in cash, in full, but without interest, no later 
than twelve (12) months following the date of the retirement or withdrawal. 
(3) Alternate Procedure. In lieu of purchasing the interest of the retiring or withdrawing Partner 
as provided in subparagraph (1) and (2) above, the remaining Partners may elect to dissolve,
liquidate and terminate the Partnership. Such election shall be made, if at all, within thirty (30) 
days following receipt of the appraisal referred to above. 
13. Procedure on Dissolution of Partnership: 
Except as provided in Section 10.B. (3) above, this Partnership may be dissolved only by a 
unanimous agreement of the Partners. Upon dissolution, the Partners shall proceed with 
reasonable promptness to liquidate the Partnership business and assets and wind-up its 
business by selling all of the Partnership assets, paying all Partnership liabilities, and by 
distributing the balance, if any, to the Partners in accordance with their capital accounts, as 
computed after reflecting all losses or gains from such liquidation in accordance with each 
Partner's share of the net profits and losses as determined under Section 5. 
14. Title to Partnership Property: 
If for purposes of confidentiality, title to Partnership property is taken in the name of a 
nominee or of any individual Partner, the assets shall be considered to be owned by the 
Partnership and all beneficial interests shall accrue to the Partners in the percentages set 
forth in this Agreement. 
15. Leases: 
All leases of Partnership assets shall be in writing and on forms approved by all the 
Partners. 
16. Controlling Law: 
This Agreement and the rights of the Partners under this Agreement shall be governed by 
the laws of the State of ___State___. 
17. Notices: 
Any written notice required by this Agreement shall be sufficient if sent to the Partner or 
other party to be served by registered or certified mail, return receipt requested, addressed 
to the Partner or other party at the last known home or office address, in which event the 
date of the notice shall be the date of deposit in the United States mails, postage prepaid. 
18. General: 
This Agreement contains the entire agreement of the Partners with respect to the 
Partnership and may be amended only by the written agreement executed and delivered by 
all of the Partners. 
Individual Partner Responsibilities
Partner: 
Detail the outputs and outcomes of that partner 
Detail any specific roles that they have that are different to the other partners 
NAME SIGNIATURE DATE 
_____________________ ___________________________ ___________ 
_____________________ ___________________________ ___________ 
_____________________ ___________________________ ___________ 
_____________________ ___________________________ ___________ 
_____________________ ___________________________ ___________ 
_____________________ ___________________________ ___________ 
_____________________ ___________________________ ___________ 
_____________________ ___________________________ ___________ 
_____________________ ___________________________ ___________ 
_____________________ ___________________________ ___________ 
It is a good idea to give each partner a copy of all of these pages so that everyone is 
clear what each other is doing

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Partnership Agreement / Articles of Partnership

  • 1. Sample Partnership Deed Prepared by, Syed Anas Abdali Submitted to, Miss.Sidrah Farooq Dated: 13th Feb, 2014. Semester: DBA-Spring-14
  • 2. Partnership Agreement THIS PARTNERSHIP AGREEMENT is made this __________ day of ___________, 20__, by and between the following individuals: Name of the partner 1 Address: _________________________ _________________________________ _________________________________ CNIC Number :_____________________ Name of the partner 2 Address: _________________________ _________________________________ _________________________________ CNIC Number :_____________________ Name of the partner 3 Address: _________________________ _________________________________ _________________________________ CNIC Number :_____________________ The Partners wish to set forth, in a written agreement, the terms and conditions by which they will associate themselves in the Partnership.
  • 3. NOW, THEREFORE, in consideration of the promises contained in this Agreement, the Partners affirm in writing their association as a partnership in accordance with the following provisions: 1. Nature of Business: The partners listed above hereby agree that they shall be considered partners in business for the following purpose: _________________________________________________________________________ _________________________________________________________________________ _________________________________________________________________________ 2. Name: The partnership shall be conducted under the name of ________________ and shall maintain offices at [STREET ADDRESS], [CITY, STATE, and ZIP]. 3. Purpose: The purpose of the Partnership shall be to ___Business Description___. The Partnership may also engage in any and every other kind or type of business, whether or not pertaining to the foregoing, upon which the Partners may at any time or from time to time agree. 4. Term: The Partnership shall commence as of the date of this Agreement and shall continue until terminated as provided herein. 5.Relationships: 5.1 Principles of partnership: All members are expected to agree to our principles of partnership. These are set out at Annex A. 5.2 Structure: The partnership consists of the whole partnership group plus the following sub groups. The partnership group will be chaired by insert partner who will chair. The chair will be elected annually by the partnership. 5.3 Membership:
  • 4. The partnership consists of the individuals/organizations listed above under details of partners. The lead partner is insert name. New members may be brought into the partnership explain how 5.4 Communications: The partnership will meet give frequency. A draft agenda for meetings will be sent out a week in advance and each partner should let the chair know whether or not they have additional items. Notes of meetings will be sent out state how soon after the meeting by insert that is responsible. Outside of these meetings we will communicate by email. Explain if there are to be any reports sent between meetings and by whom. 5.5 Decision making: The main partnership group will make decisions. Where possible we will try to achieve a consensus. If we do vote on any issue the decision will be carried by a majority vote. 5.6 Resolving problems: Where there is a conflict, dispute of difference within the partnership, in the first place we will try to resolve the matter through senior managers of the parties concerned. If there is still no resolution then we will involve a third party. This will be another member of the partnership / the accountable body / the funding body / an independent body. 6.Membership roles and responsibilities: 6.1 Range of services: Each partner will deliver the services as set out in Annex B 6.2 Attendance at partnership meetings & sub groups: All partners are expected to attend partnership meetings and where possible send the same representative each time to ensure continuity. If a partner is unable to
  • 5. attend then the onus is on them to find out what was discussed and agreed at the meeting. 6.3 Quality standards: The partnership will adopt the following quality standards and all partners are expected to comply with these 6.4 Sub contracting (if relevant): State whether or not sub contracting is allowed 6.5 Insurance requirements: Each partner is responsible for maintaining relevant insurance policies including public liability, employer’s liability and professional indemnity 6.6 Health and safety: Each partner is responsible for the health and safety of their staff, volunteers and beneficiaries (where relevant) in accordance with their health and safety policy and should have suitable risk assessment systems. 6.7 Data protection: All partners should comply with the requirements of the data protection act 6.8 Equal opportunities: All partners must have a written equal opportunities policy that outlines the arrangements that are in place to ensure staff; volunteers and beneficiaries are treated fairly and protected from bullying and harassment. 7. Financial arrangements:
  • 6. 7.1 Details of funding: Explain how much money the partnership has and where it comes from Name Of Partner Capital Contribution Agreed-Upon Cash % Share 7.2 Payments and claims: Explain the process for making claims and payments (if applicable). This could mirror what the funder expects 7.3 Overpayments: Explain what will happen if too much is paid in error 7.4 Profits and Losses: Until modified by mutual consent of all the Partners, the profits and losses of the Partnership and all items of income, gain, loss, deduction, or credit shall be shared by the Partners in the following proportions: Sr. No. Partner Name Partner Share Profit/Loss 1. 2. 3. 8. Books and Records of Account: The Partnership books and records shall be maintained at the principal office of the Partnership and each Partner shall have access to the books and records at all reasonable times.
  • 7. 9. Future Projects: The Partners recognize that future projects for the Partnership depend upon many factors beyond present control, but the Partners wish to set forth in writing and to mutually acknowledge their joint understanding, intentions, and expectations that the relationship among the Partners will continue to flourish in future projects on similar terms and conditions as set forth in this Agreement, but there shall be no legal obligations among the Partners to so continue such relationship in connection with future projects. 10. Time and Salary: Until and unless otherwise decided by unanimous agreement of the Partners, [Time Commitment]. Each Partner shall nonetheless be expected to devote such time and attention to Partnership affairs as shall from time to time be determined by agreement of the Partners. No Partner shall be entitled to any salary or to any compensation for services rendered to the Partnership or to another Partner. 11. Transfer of Partnership Interests: A. Restrictions on Transfer. None of the Partners shall sell, assign, transfer, mortgage, encumber, or otherwise dispose of the whole or part of that Partner's interest in the Partnership, and no purchaser or other transferee shall have any rights in the Partnership as an assignee or otherwise with respect to all or any part of that Partnership interest attempted to be sold, assigned, transferred, mortgaged, encumbered, or otherwise disposed of, unless and to the extent that the remaining Partner(s) have given consent to such sale, assignment, transfer, mortgage, or encumbrance, but only if the transferee forthwith assumes and agrees to be bound by the provisions of this Agreement and to become a Partner for all purposes hereof, in which event, such transferee shall become a substituted partner under this Agreement. B. Transfer Does Not Dissolve Partnership. No transfer of any interest in the Partnership, whether or not permitted under this Agreement, shall dissolve the Partnership. No transfer, except as permitted under Subsection 9.A. above, shall entitle the transferee, during the continuance of the Partnership, to participate in the management of the business or affairs of the Partnership, to require any information or account of Partnership transactions, or to inspect the books of account of the Partnership; but it shall merely entitle the transferee to receive the profits to which the assigning Partner would otherwise be entitled and, in case of dissolution of the Partnership, to receive the interest of the assigning Partner and to require an account from the date only of the last account agreed to by the Partners.
  • 8. 12. Death, Incompetency, Withdrawal, or Bankruptcy: Neither death, incompetency, withdrawal, nor bankruptcy of any of the Partners or of any successor in interest to any Partner shall operate to dissolve this Partnership, but this Partnership shall continue as set forth in Section 3, subject, however, to the following terms and conditions: A. Death or Incompetency: In the event any Partner dies or is declared incompetent by a court of competent jurisdiction, the successors in interest of that Partner shall succeed to the partnership interest of that Partner and shall have the rights, duties, privileges, disabilities, and obligations with respect to this Partnership, the same as if the successors in interest were parties to this Agreement, including, but not limited to, the right of the successors to share in the profits or the burden to share in the losses of this Partnership, in the same manner and to the same extent as the deceased or incompetent Partner; the right of the successors in interest to continue in this Partnership and all such further rights and duties as are set forth in this Agreement with respect to the Partners, the same as if the words "or his or her successors in interest" followed each reference to a Partner; provided, however, that no successor in interest shall be obligated to devote any service to this Partnership and, provided further, that such successors in interest shall be treated as holding a passive, rather than active, ownership investment. B. Payments Upon Retirement or Withdrawal of Partner: (1) Amount of Payments. Upon the retirement or withdrawal of a Partner, that Partner or, in the case of death or incompetency, that Partner's legal representative shall be entitled to receive the amount of the Partner's capital account (as of the end of the fiscal year of the Partnership next preceding the day on which the retirement or withdrawal occurs) adjusted for the following: (i) Any additional capital contributions made by the Partner and any distributions to or withdrawals made by the Partner during the period from the end of the preceding fiscal year to the day on which the retirement or withdrawal occurs; (ii) The Partner's share of profits and losses of the Partnership from the end of the preceding fiscal year of the Partnership to the day on which the retirement or withdrawal occurs, determined in accordance with generally accepted accounting principles, consistently applied; and (iii) The difference between the Partner's share of the book value of all of the Partnership assets and the fair market value of all Partnership assets, as determined by a fair market value appraisal of all assets. Unless the retiring or withdrawing Partner and the Partnership can agree on one appraiser, three (3) appraisers shall be appointed--one by the Partnership, one by the retiring or withdrawing Partner, and one by the two appraisers thus appointed. All appraisers shall be appointed within fifteen (15) days of the date of retirement or withdrawal. The average of the three appraisals shall be binding on all Partners. (2) Time of Payments. Subject to a different agreement among the Partners or successors thereto, the amount specified above shall be paid in cash, in full, but without interest, no later than twelve (12) months following the date of the retirement or withdrawal. (3) Alternate Procedure. In lieu of purchasing the interest of the retiring or withdrawing Partner as provided in subparagraph (1) and (2) above, the remaining Partners may elect to dissolve,
  • 9. liquidate and terminate the Partnership. Such election shall be made, if at all, within thirty (30) days following receipt of the appraisal referred to above. 13. Procedure on Dissolution of Partnership: Except as provided in Section 10.B. (3) above, this Partnership may be dissolved only by a unanimous agreement of the Partners. Upon dissolution, the Partners shall proceed with reasonable promptness to liquidate the Partnership business and assets and wind-up its business by selling all of the Partnership assets, paying all Partnership liabilities, and by distributing the balance, if any, to the Partners in accordance with their capital accounts, as computed after reflecting all losses or gains from such liquidation in accordance with each Partner's share of the net profits and losses as determined under Section 5. 14. Title to Partnership Property: If for purposes of confidentiality, title to Partnership property is taken in the name of a nominee or of any individual Partner, the assets shall be considered to be owned by the Partnership and all beneficial interests shall accrue to the Partners in the percentages set forth in this Agreement. 15. Leases: All leases of Partnership assets shall be in writing and on forms approved by all the Partners. 16. Controlling Law: This Agreement and the rights of the Partners under this Agreement shall be governed by the laws of the State of ___State___. 17. Notices: Any written notice required by this Agreement shall be sufficient if sent to the Partner or other party to be served by registered or certified mail, return receipt requested, addressed to the Partner or other party at the last known home or office address, in which event the date of the notice shall be the date of deposit in the United States mails, postage prepaid. 18. General: This Agreement contains the entire agreement of the Partners with respect to the Partnership and may be amended only by the written agreement executed and delivered by all of the Partners. Individual Partner Responsibilities
  • 10. Partner: Detail the outputs and outcomes of that partner Detail any specific roles that they have that are different to the other partners NAME SIGNIATURE DATE _____________________ ___________________________ ___________ _____________________ ___________________________ ___________ _____________________ ___________________________ ___________ _____________________ ___________________________ ___________ _____________________ ___________________________ ___________ _____________________ ___________________________ ___________ _____________________ ___________________________ ___________ _____________________ ___________________________ ___________ _____________________ ___________________________ ___________ _____________________ ___________________________ ___________ It is a good idea to give each partner a copy of all of these pages so that everyone is clear what each other is doing