Partnership agreements go hand-in-hand with setting up a partnership firm, as partners can use these agreements to spell out their respective partnership rights and duties with precision.
What is Included in the Template for Partnership Agreement?
- Instructions on how you can use the template
- Interpretations of terms
- The business of the partnership
- Management rights and council
- Authority of partners
- Salary and capital contribution of partners
- Profit and losses
- Access to partnership records
- Confidential information and duties of both parties
- Restriction on transfer of interest
- Withdrawal or death of partner
- Non-compete clause
- Basis of termination of agreement
The following excerpt is taken from our partnership agreement template (which you can purchase at the link below):
4. AUTHORITY OF PARTNERS GENERALLY
4.1. No Partner shall enter into any transaction whereby the Partnership’s property may be used as security without the written consent of the other Partner(s).
Need a template for a partnership agreement? You can get one here.
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For a guide to partnership agreements in Singapore, click here.
If you need help customising your partnership agreement, feel free to get in touch with one of our corporate lawyers.