(On Company Letterhead)

PARTNERSHIP DEED

This Deed of Partnership is executed on this [Date], 20[Year], by and amongst:

1. [Name of Party 1], son/daughter of [Father's Name], residing at [Address] (hereinafter referred to
as "Party of the First Part");
AND
2. [Name of Party 2], son/daughter of [Father's Name], residing at [Address] (hereinafter referred to
as "Party of the Second Part").

WHEREAS the above-named parties intend to carry on the business in partnership under the name and
style of "[Name of the Partnership Business]" as per this Deed of Partnership.

AND WHEREAS all the parties hereby desire to reduce the terms and conditions in writing to avoid any
disputes and misunderstandings that may arise in the future.

NOW THIS DEED WITNESSES AS FOLLOWS: -

1. The partnership business shall be carried on under the name and style of "[Name of the
Partnership Business]”.

2. The business of the partnership firm shall be trading of clothes or any other business as may be
mutually decided by all the partners from time to time.

3. The Head Office of the partnership firm will be located at [Address]. The principal place of business
may be shifted to other places as unanimously decided by the partners.

4. The partners may open branches under any name and style at such places as decided from time to
time.

5. The terms and conditions of the partnership shall be deemed to have commenced with effect from
[Date of Commencement].

6. The capital required for the partnership shall be contributed by the partners as mutually agreed
upon.

7. The regular books of accounts of the partnership shall be maintained at the place of business, and
each partner shall have access to and copies of the same. All transactions entered into by the
partners on behalf of the firm shall be recorded faithfully.

8. At the end of each accounting year, the firm's accounts shall be drawn up, and the Profit & Loss
Account and Balance Sheet prepared. The profits and/or losses falling to the share of each partner
shall be credited or debited to their respective accounts.

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9. The Profit and Loss Account and the Balance Sheet shall be duly signed by any two partners and
shall be binding and final upon signing.

10. The profits and losses of the partnership business shall be divided among the partners as follows:
(i) [Name of Party 1]: 50%
(ii) [Name of Party 2]: 50%

11. The bank account(s) of the partnership shall be operated by any of the partners to this deed or as
mutually decided from time to time.

12. No partner, without the written consent of all the other partners, shall:
(i) Sell, mortgage, assign, or transfer their share or interest in the partnership business or
property.
(ii) Charge, mortgage, hypothecate, assign, or transfer the business, property, or rights of the
partnership firm.

13. The partnership is "AT WILL" and can be dissolved at any time with the mutual consent of all the
parties to this deed.

14. All the parties to this deed shall work diligently and faithfully for the common advantage of the firm
and shall provide true and correct information to each other.

15. Any consent or differences that may arise between the partners or their legal heirs, successors, or
representatives shall be referred to arbitration under the Indian Arbitration Act, 1940.

16. The provisions of the Indian Partnership Act, 1932 shall apply as regards matters not expressly
provided for in this partnership deed.

17. Any of the above terms, conditions, and stipulations may be altered, varied, or added to by
mutually taking the consent of all the partners in writing.

18. All business expenses shall be borne by the Partnership Firm.

19. The powers and duties of the Partners, which shall be exercised at their sole discretion with mutual
consent (written/verbal) from partners, shall include but not be limited to the following:
(i) To convert this partnership Firm into an LLP, Pvt. Ltd., or Ltd. Company as and when
Partner opts to do so.
(ii) To acquire, purchase, takeover, and/or amalgamate business or undertakings of
companies or firms that may be combined with the firm's business.
(iii) To sell, mortgage, assign, or lease and dispose of the firm's properties as the Partners may
think fit.

20. The capital required for the partnership business shall be contributed by the PARTIES in such a
manner as agreed to between them. A simple interest of 12% p.a. shall be payable by the firm to
the parties.

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21. Any partner may draw salary, remuneration, and/or commission for working in the partnership firm
as agreed upon between the partners.

22. The books of accounts and other documents belonging to the firm shall be kept at the place of
business and shall be open for inspection by any of the parties or their authorized agent.

23. The written consent of all Partners will be required for the partnership to avail credit facilities from
any financial institution.

24. Any matters for which no provisions have been made in this deed may be decided upon by mutual
consent of the parties in writing.

25. Unless provided hereinbefore, the provisions of the Indian Partnership Act, 1932 shall apply.

IN WITNESS WHEREOF, the parties hereto have set and subscribed their hands on the day, month, and year
first mentioned above.

WITNESSES:

1. _______________________

2. _______________________

EXECUTANTS

(Party of the First part) (Party of the Second Part)

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