Questionnaire - FasterDraft

Partners Details

How many partners does the Partnership have?

2
3
4
5 or more

Indicate the full name of Partner 1:

Indicate the full residential/business address of Partner 1:

Indicate the full name of Partner 2:

Indicate the full residential/business address of Partner 2:

Indicate the full name of Partner 3:

Indicate the full residential/business address of Partner 3:

Indicate the full name of Partner 4:

Indicate the full residential/business address of Partner 4:

Provide full names and residential/business address of all Partners:

Partnership Details

Indicate the full legal name of the Partnership:

Describe in details for which purpose/type of business the Partnership was created:

Indicate the full business address of the Partnership:

Select the state or territory where the Partnership primarily operates:

The laws of a state or territory selected as an answer to this question will apply towards this Deed.

Liquidation Process

Indicate the full name of a liquidating partner:

A liquidating partner is a partner appointed to wind up the partnership’s affairs by settling debts, selling assets, and distributing remaining funds to the partners.

Any existing partner can be appointed as the liquidating partner, provided all partners agree so.

Should the liquidating partner be paid for performing the liquidation duties?

Specify in detail how the compensation for the liquidating partner shall be determined:

Compensation for a liquidating partner may take various forms, including:

– A fixed fee or lump-sum remuneration;
– A recurring allowance (e.g., monthly, weekly, or daily);
– Reimbursement for all work-related expenses incurred;
– A combination of any of the above, as agreed by the Partners.

Enter the full legal name of the individual to be appointed as the Accountant:

This person should be qualified to handle financial matters.

A liquidating accountant may be a Partner, a professional accountant, or an external financial expert designated to manage the Partnership’s accounting during the dissolution process.

Miscellaneous

Select the date on which partners sign this Deed:

How shall the remaining assets be allocated among the Partners following the settlement of all liabilities?

In equal shares
Pro rata to a Partner's capital contribution
Other arrangement

In equal shares means that, regardless of the size of each partner’s contribution, all remaining assets are divided equally between the partners. For example, if there are two partners, each partner receives 50% of the remaining assets.

Pro-rata to capital contributions means that each partner receives a portion of the remaining assets proportional to their capital contribution or ownership share in the partnership.