Business

Jul 4 2017

Partnership Agreement #business #bank #account

#business partnership agreement

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Partnership Agreement

Document Overview

Have you recently formed a Partnership? It is important to have a Partnership Agreement between you and your partners to set the business conduct of the Partnership. A Partnership Agreement is necessary as a foundation of your business partnership, ensuring that your interests, and that of your partners, are aligned and protected. Apart from reflecting clearly what business terms the partners agree on, a Partnership Agreement also provides guidance to mediate any disputes that may arise.

Use this Partnership Agreement if:

  • You are entering into a Partnership and will like to lay down the rules of the Partnership.

What does the Partnership Agreement cover?

  • Partnership name and business address;
  • Names of the partners;
  • Effective date of agreement, and commencement of Partnership;
  • Maintenance of the Partnership account;
  • Duties and limitations of each partner;
  • Sharing of capital and property, profit or losses;
  • Operation of partner s shares;
  • Rules governing dissolution of the Partnership;
  • Terms concerning retirement, death, or expulsion of a partner; and
  • Dispute resolution.

Other names for Partnership Agreement include:

  • Partner Agreement; and
  • Partnership Contract.
  • suitable for all Australian states and territories
  • last updated July 2014
  • under 15 minutes

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