Partnership Agreement
  • General Information
    • Partners Details
    • Partnership Details
    • Financial Details
  • Daily Management
    • Contributions of Partners
    • Profits and Losses
    • Miscellaneous
  • Complete the Document
    • Format & Signatures

Partners Details

  • How many partners does the Partnership have?

    !

    A Partner is an investor who contributes capital and participates in day-to-day management of the partnership.

    Their liability is limited to the amount they invested, and they are protected from the partnership’s debts beyond that.

  • Indicate full name of Partner 1:

  • Indicate full residential or business address of Partner 1:

  • Indicate full name of Partner 2:

  • Indicate full residential or business address of Partner 2:

  • Indicate full name of Partner 3:

  • Indicate the full residential or business address of Partner 3:

  • Indicate full name of Partner 4:

  • Indicate the full residential or business address of Partner 4:

  • Provide full names and residential/business addresses of all Partners:

Partnership Details

  • Indicate full name of Partnership, including all applicable designators (e.g., LLP, LP):

    !

    The chosen name cannot be similar to existing registered names or misleadingly suggest government affiliation.

    The name should also contain the type of a partnership which is “LLP” (for a limited liability partnership), “LP” (for limited partnership) or “GP” (for general partnership).

  • Describe in detail the purpose and type of business for which the partnership is established:

  • Select the date when this Partnership shall start:

    !

    This is the date when a partnership should start operating and doing business.

  • Select the state or territory, where Partnership is being created:

    !

    The laws of a state selected as an answer to this question will apply towards this Partnership Agreement.

  • Select the date on which partners sign this Agreement:

Financial Details

  • The Partnership's fiscal year shall end on:

    !

    The fiscal year usually ends with the end of a calendar year.

    However, the partners to a partnership may decide the other date. For instance, 31st of May, 30th of June etc.

  • Partnership's accounting records will be kept on:

    !

    Cash Basis Accounting – this when revenue and expenses are recorded only when cash is actually received or paid.

    Example: You invoice a client in January but they pay in March → under cash basis, you record the income in March, when the money arrives.

    Accrual Basis Accounting – this when revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is exchanged.

    Example: You invoice a client in January → under accrual basis, you record the income in January, even if payment comes in March.

  • All Partnership's accounts shall be audit:

  • Select the date by which all contributions shall be submitted in full by partners:

  • Indicate the percentage of assets, liabilities, and losses that shall be allocated to Partner 1:

  • Indicate the percentage of assets, liabilities, and losses that shall be allocated to Partner 2:

  • Indicate the percentage of assets, liabilities, and losses that shall be allocated to Partner 3:

  • Indicate the percentage of assets, liabilities, and losses that shall be allocated to Partner 4:

Contributions of Partners

  • Select the form in which Partner 1 will make their capital contribution:

  • Provide a detailed list of all services to be contributed by Partner 1, along with their estimated value in Australia dollars:

  • Indicate Partner's 1 cash contribution in Australia dollars:

  • Provide a detailed list of all goods to be contributed by Partner 1, along with their estimated value in Australia dollars:

  • Select the form in which Partner 2 will make their capital contribution:

  • Provide a detailed list of all services to be contributed by Partner 2, along with their estimated value in Australia dollars:

  • Indicate Partner's 2 cash contribution in Australia dollars:

  • Provide a detailed list of all goods to be contributed by Partner 2, along with their estimated value in Australia dollars:

  • Select the form in which Partner 3 makes their capital contribution:

  • Provide a detailed list of all services to be contributed by Partner 3, along with their estimated value in Australia dollars:

  • Indicate Partner's 3 cash contribution in Australia dollars:

  • Provide a detailed list of all goods to be contributed by Partner 3, along with their estimated value in Australia dollars:

  • Select the form in which Partner 4 makes their capital contribution:

  • Provide a detailed list of all services to be contributed by Partner 4, along with their estimated value in Australia dollars:

  • Indicate Partner's 4 cash contribution in Australian dollars:

  • Provide a detailed list of all goods to be contributed by Partner 4, along with their estimated value in Australia dollars:

  • Describe in detail type and value of contributions made by each Limited Partner:

    !

    Contributions to a limited liability partnership’s capital could have various forms, including:

    – services (e.g., accounting, legal, logistics);
    – goods (e.g., chairs, tables, laptops);
    – property (e.g., free usage of commercial space);
    – cash contribution.

  • Indicate which exact percentage from all the Partnership's assets, liabilities and profits should belong to each of Partners:

Profits and Losses

  • The profits and losses of Partnership should be distributed:

  • Describe in detail how the net profits and losses of the Partnership shall be allocated between partners:

  • Select how frequently profit and loss distribution shall take place:

Miscellaneous

  • All actions and decisions respecting the management, operation and control of Partnership will be decided by:

  • Indicate full name of a managing partner:

  • A new partner may be admitted to Partnership with a:

  • All withdrawals from Partnership's accounts shall be agreed by:

  • The partners should meet for regular meetings held:

  • The decision about Partnership's dissolution shall be adopted by:

  • All decisions related to distribution of profits and losses shall be adopted by:

Select a document's format:

PDF
DOCX
Back
You can skip answers for the questions.
Skipped answers will appear as blank part in the text of the final document. You can fill them in at later stage.
Back
Skip
Next
You can skip answers for the questions.
Skipped answers will appear as blank part in the text of the final document. You can fill them in at later stage.