Set up a partnership in the UK with this easy-to-use Partnership Agreement template.
- New partners may only be admitted with the unanimous approval of the founding partners.
- If cash flow is insufficient to meet the business' needs, the partnership can call upon the partners to purchase additional units to provide the required additional cash.
- Operating profits and losses and taxable operating profits and losses will be allocated to the partners pursuant to the Partnership Act.
- Capital profits and losses and taxable capital profits and losses will be allocated up to the amounts of available cash distributed to the partners in excess of cumulative net operating profits. Available cash will be distributed yearly.
- The partners will participate equally in the management of the partnership, but will not receive a salary as compensation for management services.
- The partnership will terminate upon the death, bankruptcy or incompetency of a partner.
This United Kingdom Partnership Agreement
template is provided in MS Word format, and is fully editable to meet your needs.
Last Updated: 14-April-2016