Questionnaire - FasterDraft

Partners Details

How many partners set up this limited liability partnership (LLP)?

2
3
4
5 or more

Indicate full name of the Partner 1:

Indicate full residential or business address of Partner 1:

Indicate the full name of the Partner 2:

Indicate full residential or business address of Partner 2:

Indicate full name of the Partner 3:

Indicate full residential or business address of Partner 3:

Indicate full name of the Partner 4:

Indicate full residential or business address of Partner 4:

Provide full name and residential/business address of all Partners who enter this Agreement:

Partnership Details

Indicate full name of the LLP under which operates:

A general partnership name must be distinguishable and avoid misrepresentation.

While many partnerships operate under their partners’ surnames, a unique name is also acceptable. The chosen name cannot be similar to existing registered names or misleadingly suggest government affiliation.

Indicate address at which the partnership is located:

Describe in details for which purpose/type of business the LLP is created:

Select the date when this document is being signed:

This is the date when this limited liability partnership agreement is signed by both parties.

Select the laws of which jurisdiction shall apply to the provisions of this agreement:

Provide the contact email address for each partner signing this agreement in the following format: Name – Email Address:

Miscellaneous

Select the date on which this agreement shall commence:

This partnership agreement is drafted for:

newly created partnership
former partnership

Indicate the partnership's former name:

Select the date on which the former partnership was created:

The LLP will last:

until terminated by the partners
until specific date

Select the date on which this LLP will be terminated:

Indicate full of the bank where all LLP's bank accounts will be maintained:

Indicate the name of the appointed auditor:

An auditor is an independent qualified professional or firm appointed to examine an LLP’s financial records and accounts to verify that they are accurate, complete, and prepared in accordance with applicable accounting standards and legal requirements.

Specify the age at which a member must retire:

Financial Contributions

Select the form in which Partner 1 makes their contribution to the Partnership:

Monetary contribution
Certain goods
Certain services

Describe the list of all services the Partner 1 shall contribute:

Indicate the Partner's 1 cash contribution in pounds (£):

Describe in detail the list of all goods Partner 1 shall contribute:

Select the form in which Partner 2 makes their contribution to the Partnership:

Monetary contribution
Certain goods
Certain services

Describe the list of all services the Partner 2 shall contribute:

Indicate the Partner's 2 cash contribution in pounds (£):

Describe in detail the list of all goods Partner 2 shall contribute:

Select the form in which Partner 3 makes their contribution to the Partnership:

Monetary contribution
Certain goods
Certain services

Describe the list of all services the Partner 3 shall contribute:

Indicate the Partner's 3 cash contribution in pounds (£):

Describe in detail the list of all goods Partner 3 shall contribute:

Select the form in which Partner 4 makes their contribution to the Partnership:

Monetary contribution
Certain goods
Certain services

Describe the list of all services the Partner 4 shall contribute:

Indicate the Partner's 4 cash contribution in pounds (£):

Describe in detail the list of all goods Partner 4 shall contribute:

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

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

Specify the day and month of the LLP's accounting reference date:

The accounting reference date is the date on which the LLP’s financial year ends. It determines the period covered by the LLP’s annual accounts and is used to establish financial reporting and filing deadlines.

Voting & Quorum

Decisions related the competence of the designated members shall be adopted by:

Unanimous approval of the members is required for any LLP expenditure exceeding (state sum in £):

Unanimous approval of the members is required for any LLP lending or borrowing exceeding (state sum in £):

Daily Management

Provide full names of appointed designated members (minimum 2 members):

A designated member is an LLP member who has additional legal and administrative responsibilities, such as ensuring the LLP complies with filing, reporting, and other statutory obligations. Every UK LLP must have at least two designated members.

Indicate total number of appointed designated members:

How many meetings per calendar year the designated members and members of the LLP shall hold?

Will the LLP have a management board?

A management board is a group of individuals appointed to oversee the LLP’s day-to-day management and operations. If established, the board’s powers, responsibilities, and decision-making authority should be set out in the LLP agreement.