Does a Partnership Deed have to have a specific format?
A partnership deed is a document which contains the terms and conditions on which the partnership was created. The Partnership Act does not provide for any specific format for a partnership deed. It can be written in any form and it should be signed by each partner personally or through his / her agent.
Having said that, certain clauses have to be included in every partnership deed:
(1) the profit sharing clause,
(2) the capital contribution clause as well as
(3) the retirement / termination clause.
Most partnership agreements have a detailed dispute resolution clause as well.
Call us at 76677 13366 to draft a Partnership Deed for your Partnership Firm.