PARTNERSHIP AGREEMENT BETWEEN HOLIDAY HOMES & MIFTAH CONCIERGE
AND ________________________________
THIS AGREEMENT is made on the …………..day of……….20……., (hereinafter, “Effective
Date”) by Holiday Homes & Miftah Concierge and
____________________________(collectively referred to as “Partners” or “Parties” or
individually as ‘Partner” or “Party”) and includes that Partner’s/Party’s successors and assigns.
In consideration of covenants and agreements contained in this Agreement, and other good and
valuable consideration, the receipt of which is hereby acknowledged, Parties agree to the following
terms and conditions and to be bound thereby:
- COMMENCEMENT AND DURATION
This agreement shall be valid from the Effective Date until termination. - THE NAME OF THE PARTNERSHIP
Partners shall carry on the partnership business under the name
___________________. - PURPOSE OF THE AGREEMENT
This is a partnership between the Partners for listing and management of properties. Both Parties will
utilize each Party’s expert resources and capabilities in delivery of the said services to the prospective
clients. - THE OFFICE
The principal business of the Partnership shall be the following address or such other place as is
determined by the Partners;
- CONTRIBUTION
The parties will show 50% contribution each, to be used by the Partnership to establish their position. - MANAGEMENT OF THE PARTNERSHIP
Subject to the limitations contained explicitly in this Agreement, the Partners shall enjoy the total,
exclusive, and absolute right, power, and authority to manage and control the Partnership and its
property, assets, and business in equal portions. The Partners shall have all of the rights, powers, and
authority conferred by law or under other provisions of this Agreement. - BUSINESS EXPENSES
The Partnership expenses are all to become payable on account of the Partnership. All losses incurred
shall be paid out of the Partnership’s capital or the profits arising from the Partnership business, or, if
both shall be deficient, by the Partners on a pro-rata basis, in proportion to their original contributions. - AUTHORITY
No Partner shall buy any goods or articles or enter into any contract on behalf of the Partnership
without the prior consent in writing of the other Partner. If any Partner exceeds this authority, the
other Partner shall have the option to take the goods or accept the Contract on account of the
Partnership or let the goods remain the sole property of the Partner who shall have obligated themself. - SEPARATE DEBTS
No Partner shall enter into any bond, become surety or cosigner, provide security for any person,
Partnership, or corporation, or knowingly condone anything by which the Partnership property may
be attached or taken in execution, without the prior written consent of the other Partner. Each Partner
shall punctually pay the Partner’s separate debts and indemnify the other Partner and the capital and
property of the Partnership against the Partner’s separate debts and all expenses relating to such
separate debts.
- BOOKS AND RECORDS
The Partners shall maintain books of account and proper entries made in the books of all sales,
purchases, receipts, payments, transactions, and property. Each Partner shall have free access at all
times to all books and records maintained relative to the Partnership business. - ACCOUNTING
The fiscal year of the Partnership shall be from ____________to_____________
[MONTH AND DAY] of each year. On the [DAY] of ______[MONTH], commencing
in [YEAR], and on the [DAY] of ___ [MONTH] in each
succeeding year, a general accounting shall be made and taken by the Partners of all sales, purchases,
receipts, payments, and transactions of the Partnership during the preceding fiscal year, and of all the
capital property and current liabilities of the Partnership. The general accounting shall be written in
the Partnership account books and signed in each book by each Partner immediately after it is
completed. After the signature of each Partner is entered, each Partner shall keep one of the books and
shall be bound by every account, except that if any manifest error is found in an account book by any
Partner and shown to the other Partners within one (1) month after the error shall have been noted by
all of them, the error shall be rectified. - DIVISION OF PROFITS AND LOSSES
All profits (net profits) and losses occurring in the course of the Partnership shall be borne according
to their contribution unless the losses are occasioned by the willful neglect or default, and not the
mere mistake or error, of any of the Parties, in which case the loss so incurred shall be made good by
the Party through whose neglect or default the losses shall arise. - ADVANCE DRAWS
Each Partner shall be at liberty to draw out of the business in anticipation of the expected profits any
sums that may be mutually agreed on, and the sums are to be drawn only after there has been entered
in the books of the Partnership the terms of the Agreement, giving the date, the amount to be drawn
by the respective Partner, the time at which the sums shall be drawn, and any other conditions or
matters mutually agreed on. The signatures of each Partner shall be affixed on the books of the
Partnership. The total sum of the advanced draw for each Partner shall be deducted from the sum that
the Partner is entitled to under the agreed distribution of profits. - EMPLOYEE MANAGEMENT
No Partner shall hire or dismiss any person in the Partnership’s employment without the other
Partner’s consent. - RELEASE OF DEBTS
No Partner shall compound, release, or discharge any debt that shall be due or owing to the
Partnership, without receiving the total amount of the debt, unless that Partner obtains the prior
written consent of the other Partner to the discharge of the indebtedness. - PROHIBITION ON TRANSFER
Neither Party shall assign, transfer, convey, encumber any of its rights or obligations hereunder
without the prior written consent of the other Party. The consent shall not be unreasonably withheld or
delayed.
- DISPUTE RESOLUTION
Parties agree to settle disputes under this agreement through (select one)
☐Negotiation ☐Mediation ☐Arbitration
☐Litigation. - TERMINATION
Either Party may terminate this agreement upon giving the other Party no less than 30 days’ notice in
writing. If a Party wishes to terminate the contract with less than this stated period, the other Party
reserves the right to charge costs that they have already paid in advance or incurred.
This Agreement may be terminated at any time if both Parties agree to the termination in writing.
The termination of this Agreement shall not discharge the liabilities accumulated by either Party. Any
Clauses intended by the Parties or this Agreement to survive the termination of this Agreement shall
survive the termination of this Agreement by whatever cause. - FORCE MAJEURE
For this Agreement, “Force Majeure” means an event which a diligent Party could not have
reasonably avoided in the circumstances, which is beyond the control of a Party and includes, but is
not limited to, war, riots, civil disorder, earthquake, storm, flood or adverse weather conditions,
strikes, lockouts or other industrial action, terrorist acts, confiscation or any other action by
government agencies. A Party’s failure to fulfill its obligations due to Force Majeure shall not be
considered as a breach of this Agreement, provided that the Party has taken all reasonable
precautions, due care, reasonable alternative measures, and minimal delay all to carry out the terms of
this Agreement. - CONFIDENTIALITY
All non-public, confidential or proprietary information of a Party (Disclosing Party), whether
disclosed orally or disclosed or accessed in written, electronic or other form or media, and whether or
not marked, designated or otherwise identified as “confidential” in connection with this Contract is
confidential, solely for the use of performing this Contract and may not be disclosed or copied unless
authorized in advance by the Disclosing Party in writing. Upon the Disclosing Party’s request, the
other Party (Recipient Party) shall promptly return all documents and other confidential materials
received from Disclosing Party. Disclosing Party shall be entitled to injunctive relief for any violation
of this Section. This Section does not apply to information that is: (a) in the public domain; (b) known
to Recipient Party at the time of disclosure, or (c) rightfully obtained by Recipient Party on a non-
confidential basis from a third party. - GENERAL PROVISIONS
This Agreement may be amended only by the written consent of the Parties hereto. If any provision is
held to be invalid or unenforceable, it shall not affect the validity or enforceability of any other
provision. This Agreement constitutes the entire Agreement between the Parties. It supersedes all
prior oral or written agreements or understandings between the Parties concerning the subject matter
of this Agreement. Except where otherwise provided, failure by either Party to enforce any of these
terms or conditions shall not be a waiver of their right to enforce them. No waiver by either Party of
any breach of, or of compliance with, any condition or provision of this Agreement by the other Party
shall be considered a waiver of any other condition or provision or of the same condition or provision
at another time.
This Agreement may be executed in any number of counterparts, each of which shall be an original
and all of which constitute the same instrument. The Article and Section headings in this Agreement
are for convenience, and they form in no part of this Agreement and shall not affect its interpretation.
Whenever used herein, the singular number shall include the plural, and the plural number shall
include the singular. Any references herein to the masculine gender or the masculine form of any
noun, adjective, or possessive shall be construed to include the feminine or neuter gender and form,
and vice versa. This Agreement shall be governed in all respects by the laws of Dubai, United Arab
Emirates (UAE), without regard to its conflict of law provisions. Any notice required to be given
between the Parties pursuant to the provisions of this Agreement shall be in writing and shall be
deemed duly given:
(i) if delivered by hand and receipted for by the party addressee, on the date of such receipt,
(ii) (ii) if mailed by domestic certified or registered mail with postage prepaid, on the third
business day after the date postmarked, or
(iii) sent by email.
at the following addresses or such changed address as the Party shall have specified by written notice,
provided that any notice of change of address shall be effective only upon actual receipt. Any notice
delivered by email shall request a receipt thereof confirmed by email or in writing by the recipient,
and the effective date of such notice shall be the date of receipt, provided such receipt has been
confirmed by the recipient.
Holiday Homes & Miftah Concierge:
_____________________: _____________________________
IN WITNESS WHEREOF, the Parties have executed this Agreement, as set below.
Signed by the duly authorized representative of
Holiday Homes & Miftah Concierge
Signature:
Name:
Designation:
Date:…………………………………………………
.
Signed by the duly authorized representative of
_
Signature:
Name:
Designation:
Date:………………………………………………….
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