Checklist Partnership Agreement

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Partnership Name and Nature of Business

1.1 Proposed Partnership Name: {{partnership_name}}

1.2 Description of Business Activities: {{scope_of_business}}

1.3 Business Commencement Date: {{commencement_date}}

Partners and Contributions

2.1 List of Partners (Full Legal Names and ID/Passport Numbers):

a. {{partner_1_name}} (ID: {{partner_1_id}})

b. {{partner_2_name}} (ID: {{partner_2_id}})

c. [Add more partners as required]

2.2 Capital Contributions (Monetary and Non-Monetary):

a. Partner 1: {{partner_1_capital_contribution}} (Description: {{partner_1_contribution_details}})

b. Partner 2: {{partner_2_capital_contribution}} (Description: {{partner_2_contribution_details}})

c. [Add more contributions as required]

2.3 Percentage Ownership/Profit Sharing Ratio:

a. Partner 1: {{partner_1_profit_share}}%

b. Partner 2: {{partner_2_profit_share}}%

c. [Add more as required]

Management and Decision-Making

3.1 Roles and Responsibilities of Each Partner:

a. Partner 1: {{partner_1_roles}}

b. Partner 2: {{partner_2_roles}}

3.2 Decision-Making Authority (e.g., unanimous consent, majority vote): {{decision_making_process}}

3.3 Appointment of Managing Partner (if applicable): {{managing_partner_name}}

3.4 Meeting Frequency and Quorum Requirements: {{meeting_frequency}}, Quorum: {{quorum_number}} partners

Financial Arrangements

4.1 Bank Account Details: {{bank_name}}, Account No: {{account_number}}

4.2 Drawing Rights/Salaries for Partners: {{partner_drawings_details}}

4.3 Accounting Period and Auditing Requirements: {{accounting_period}}, Audit frequency: {{audit_frequency}}

4.4 Procedure for Distribution of Profits and Losses: {{profit_loss_distribution_method}}

Dispute Resolution and Exit Strategies

5.1 Procedure for Resolving Disputes (e.g., mediation, arbitration): {{dispute_resolution_method}}

5.2 Buy-Sell Provisions (e.g., death, disability, withdrawal of a partner): {{buy_sell_provisions}}

5.3 Valuation Method for Partner’s Share: {{valuation_method}}

5.4 Dissolution of Partnership: {{dissolution_procedures}}

General Provisions

6.1 Governing Law: {{governing_law_jurisdiction}}

6.2 Confidentiality Clauses: {{confidentiality_details}}

6.3 Non-Compete Clauses (if applicable): {{non_compete_details}}

6.4 Amendments to the Agreement: {{amendment_procedure}}