Partnership deed

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Querist : Anonymous

Querist : Anonymous (Querist)

31 October 2015 I need partnership deed for Medical store for fixed term

Please provide as early as possible

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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31 October 2015 find in google.. you can search which one is more suitable to you

Querist : Anonymous

Querist : Anonymous (Querist)

31 October 2015 CA Ankitji Thanks for your such a useful reply. Why should I ask here if i can get there what i want!!!!! you must have such common sense. if you dont have, then please don't reply but dont behave ridiculously.

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Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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09 August 2024 Here’s a draft of a partnership deed tailored for a medical store, specifying a fixed term for the partnership. This template includes essential clauses and can be customized according to your specific needs.

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**Partnership Deed**

**This Deed of Partnership** is made on this [Date] day of [Month, Year] between:

1. **[Partner 1’s Name]**, residing at [Address] (hereinafter referred to as "Partner 1").

2. **[Partner 2’s Name]**, residing at [Address] (hereinafter referred to as "Partner 2").

**Whereas**:

- The Partners wish to carry on the business of a medical store under the name and style of [Firm’s Name].

**Now, Therefore, it is agreed as follows:**

### **1. Name and Business**

1. **Name of the Firm:**
- The name of the partnership firm shall be **[Firm’s Name]**.

2. **Nature of Business:**
- The firm shall engage in the business of running a medical store, including the sale of pharmaceutical products, medical supplies, and related items.

3. **Address of Business:**
- The principal place of business of the firm shall be located at [Business Address].

### **2. Duration**

1. **Term of Partnership:**
- The partnership shall commence on [Commencement Date] and shall continue for a fixed term of [Number of Years] years, ending on [End Date], unless terminated earlier in accordance with the terms of this deed.

### **3. Capital Contribution**

1. **Initial Capital:**
- The initial capital of the firm shall be contributed by the Partners as follows:
- Partner 1: [Amount]
- Partner 2: [Amount]

2. **Additional Capital:**
- Any additional capital required shall be contributed by the Partners in proportion to their respective shares in the profits and losses of the firm.

### **4. Profit and Loss Sharing**

1. **Profit and Loss Ratio:**
- The profits and losses of the firm shall be shared between the Partners in the following ratio:
- Partner 1: [Percentage]%
- Partner 2: [Percentage]%

### **5. Remuneration**

1. **Remuneration of Partners:**
- Each Partner shall be entitled to a monthly remuneration of [Amount], subject to the availability of profits.

### **6. Drawings**

1. **Drawings by Partners:**
- Partners may draw up to [Amount] per month. Any excess drawing shall be subject to approval by the other Partner(s).

### **7. Interest on Capital**

1. **Interest on Capital:**
- Interest on the capital contributed by the Partners shall be paid at the rate of [Rate]% per annum.

### **8. Bank Account**

1. **Bank Account:**
- The firm shall open a bank account with [Bank’s Name], and both Partners shall be authorized signatories.

### **9. Books of Account**

1. **Maintenance of Accounts:**
- Proper books of account shall be maintained, and each Partner shall have access to them at any time.

### **10. Duties and Responsibilities**

1. **Roles and Responsibilities:**
- Partner 1 shall be responsible for [Specific Duties].
- Partner 2 shall be responsible for [Specific Duties].

### **11. Decision-Making**

1. **Decision-Making Process:**
- Major decisions related to the business shall be made jointly by the Partners. In case of a disagreement, the matter shall be resolved as per the provisions of this deed.

### **12. Compliance**

1. **Regulatory Compliance:**
- The firm shall comply with all applicable laws and regulations related to the operation of a medical store.

### **13. Termination**

1. **Termination of Partnership:**
- The partnership may be terminated before the end of the fixed term by mutual consent or as per the provisions of this deed. Upon termination, the assets and liabilities shall be distributed as per the agreed terms.

### **14. Dispute Resolution**

1. **Dispute Resolution:**
- Any disputes arising out of this partnership shall be resolved through mediation or arbitration, as mutually agreed by the Partners.

### **15. Governing Law**

1. **Governing Law:**
- This partnership deed shall be governed by and construed in accordance with the laws of [State/Country].

**In Witness Whereof**, the parties hereto have set their hands and seals to this Deed on the day, month, and year first above written.

**Partner 1:**

Signature: __________________________
Name: [Partner 1’s Name]

**Partner 2:**

Signature: __________________________
Name: [Partner 2’s Name]

**Witnesses:**

1. **[Witness 1’s Name]**
Signature: __________________________
Address: __________________________

2. **[Witness 2’s Name]**
Signature: __________________________
Address: __________________________

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**Note:** This is a basic template and should be customized according to the specific needs of the partners and the nature of the business. It’s also important to consult with a legal expert to ensure that all relevant legal requirements and local regulations are met.