Partnership deed

A partnership deed is basically the agreement between two partners who are sharing a business
together and its profit and loss.

A partnership deed contains the following details.

 Details of partners
 Terms
 Detail of business
 Purpose of partnership
 Contribution of capital
 Interest on capital
 Profit and loss sharing
 Voting rights in management
 Dissolution
 Death of partner

Format of a Partnership deed

1. Details of partners:

The agreement is made on 13th February 2021. There are two partners in this business

Asad

Muslim town Lahore. CNIC No: 36502-264817-6

Ahmed

Makah colony street no. 13, Walton Cant. Lahore. CNIC no. 36502-98765-7

2. Terms:

The partnership will start from 28th February 2021.

3. Details of business:

The partners have formed a business of wedding card printing with a name of “MAKING
MEMORIES”. The office is located in shop No. 4, 2nd floor Ali tower, MM Alam road Lahore.
4. Objective of partnership:

The business has been started to print customized wedding cards and sell it directly to the
customers.

5. Share of capital:

Partners will be contributing equal amounts of capital (50% each). A joint account of partners
will be created in the Bank of Punjab in which all transactions will be made. Both partners will
operate the amount of capital with mutual consent.

6. Interest on capital:

At the start, there will be no interest for the partners on the amount they have contributed.

7. Profit and loss sharing:

As the partners have contributed the capital equally so the profit or loss will also be divided
equally (50% for each partner).

8. Rights in management:

Mutual consultation is the key for a successful partnership business. Here, the partners have
equal contribution in capital so they should share the load equally. They will ask each other
about every transaction and every small detail regarding the business. No partner is alone
responsible for the working of business.

9. Dissolution:

Dissolution of partnership happens when one or both the partners decide to stop the business.
Partners can do so anytime by mutual consent. Generally there are ways to cease the business
which are as follow.

 By partners
 By law or by court order
 By the death of partner
In Witness of:
Partners have agreed and signed the terms and conditions mentioned above. Now the
partners can start their business on the mentioned date. Both the partners are major, clear
by law and of sound mind.

Partners/Executants:

1. Asad (CNIC No. 36502-264817-6)

2. Ahmed (CNIC No. 36502-98765-7