PARTNERSHIP AGREEMENT
This Partnership Agreement is made on
__________________20___ Between _______________ and ____________________.
1. Name and Business.
The parties hereby agree to form a partnership to operate a business known as
_______________.
The principal office of the business shall be at _______________________.
The Business shall be specialized in selling women’s clothing.
2. Term.
The partnership shall begin on _____________, and shall continue until terminated as
herein provided.
3. Payment.
The parties agree that any payments made shall be done via __________.
4. Management Duties and Restrictions.
The partners shall have equal rights in the management of the partnership business, and
each partner shall devote their time to the company’s conduct. Without the consent of the
other partner, neither partner shall, on behalf of the partnership, borrow or lend money, or
make, deliver, or accept any commercial paper, or execute any mortgage, security
agreement, bond, lease, or purchase or contract to purchase or sell or contract to sell any
property for or of the partnership other than the type of property bought and sold in the
regular course of its business.
5. Responsibilities.
Parties herein agree to the following responsibilities; –
By ______________: –
i. Provide the design of the dress and accessories
ii. Provide required fabric and materials.
iii. Agree on the prices with tailors and factories
iv. Choosing exhibitions and dealing with exhibition owners.
By ______________: –
i. Organizing Photoshop and photography
ii. Organizing the requirements exhibition in terms of interior requirements, models
management, and Instagram management
iii. Estimating the Project fees
Shared responsibilities: –
i. Both parties are responsible for attending the agreed exhibitions
ii. Parties shall make sure the other party receives updates, exhibition dates, or
changes via WhatsApp or e-mail
iii. Hold monthly meetings to discuss the plan for the next month by maha
iv. Parties must agree on material purchases before purchasing
v. Parties must agree on the design submitted by Noha together
vi. The parties must agree on the number of fabric (pieces)
vii. Both parties are responsible for customer orders
viii. Both parties are responsible for coordinating with the delivery companies
ix. The parties should agree to participate in any exhibition
6. Banking.
All partnership funds shall be deposited in its name in such checking accounts or accounts
designated by the partners. All withdrawals are to be made upon checks signed by both
partners.
Both parties have to agree on the money to be spent each month.
7. Termination.
The partnership may be dissolved at any time by agreement of the partners, in which the
partners shall proceed with reasonable promptness to liquidate the business of the
partnership.
The partnership name shall be sold with the other assets of the business. The assets of the
partnership business shall be used and distributed in the following order:
a. To pay or provide for the payment of all partnership liabilities and liquidating
expenses and obligations;
b. To equalize the income accounts of the partners;
c. To discharge the balance of the income accounts of the partners;
The partnership may also be terminated if there is a lack of work or effort from either partner.
8. Dispute Resolution.
Any controversy or claim arising out of or relating to this Agreement, or the breach thereof,
shall be settled by arbitration in accordance with the rules, and judgment upon the award
rendered may be entered in any court having jurisdiction thereof.
9. Governing Law.
This Agreement shall be construed, governed, interpreted, and applied according to the
Laws of ____________________.
10. Waiver.
The waiver by either party of the breach of any covenant or provision in this Agreement shall
not operate or be construed as a waiver of any subsequent breach by either party.
11. Severability.
In the event a court of competent jurisdiction declares any term or provision of this
Agreement to be invalid or unenforceable for any reason, this Agreement will remain in full
force and effect and either:
a. The invalid or unenforceable provision(s) will be modified to the minimum extent
necessary to make such provision(s) valid and enforceable; or
b. If such a modification is not possible, this Agreement will be interpreted as if such
invalid or unenforceable provision(s) were not a part of this Agreement.
12. Amendment of Agreement.
This agreement cannot be amended without the written consent of all partners.
IN WITNESS WHEREOF, the partners hereunto set their signatures and acknowledged this
Agreement as the date first above written.
__________________________________
_
Signature:
_____________________________
Date: ______________________________
Email Address: _____________________
__________________________________
_
Signature:
_____________________________
Date:
_________________________________
Email Address: _____________________
At Legal writing experts, we would be happy to assist in preparing any legal document you need. We are international lawyers and attorneys with significant experience in legal drafting, Commercial-Corporate practice and consulting. In the last few years, we have successfully undertaken similar assignments for clients from different jurisdictions. If given this opportunity, The LegalPen will be able to prepare the legal document within the shortest time possible. You can send us your quick enquiry ( here )