Australia General Partnership Agreement

Set up a business partnership between two or more partners with this General Partnership Agreement template for Australia.

• The term of the partnership is open ended, and will continue until all the partners agree to dissolve the partnership.
• The agreement provides for additional capital contributions to be injected into the partnership by all partners when a cash call is made.
• The partners cannot make voluntary capital contributions or make withdrawals of capital without the consent of all partners.
• No partner may loan money to the partnership without the approval of the other partners.
• Calculation and allocation of profits and losses will not take into account any tax-exempt income.
• Method for appointing a managing partner to run the day to day operations.
• Partners may engage in outside business activities so long as they do not compete with the partnership's business.
• The partnership will not dissolve upon the death, disability or withdrawal of a partner.
• Right of first refusal by other partners to purchase the interest of a withdrawing partner.