Products tagged with 'partnership form'

Prepare a Collateral Trust Agreement Between Partners with this downloadable template for a two-person partnership.

• One partner appoints a trustee to hold a life insurance policy or policies on the life of the other partner in trust on the partner's behalf.
• Upon the death of the insured partner, the partner agrees to purchase the insured partner's interest, using the proceeds from the insurance policy / policies.
• The trustee will hold the insurance policy / policies in trust, but the partner will receive all dividends.
• The partner will pay the trustee a yearly fee for acting as trustee.
• This legal form template is fully editable and can be easily customized to meet your needs.
• This is a generic form which does not contain references to the laws of any particular country and can be used in many countries and jurisdictions.

Prepare a Partnership Agreement with shotgun provisions with this fully editable template.

• The partners agree not to compete with the partnership's business.
• The partnership's business will be run by a management committee appointed by the partners.
• Each partner has a right of first refusal to acquire the partnership interest of a departing partner.
• A partner wishing to withdraw may issue a mandatory shotgun buy-sell notice to the other partners.
• Upon the death of a partner, the surviving partner(s) must purchase the interest of the deceased partner, with the buy-out funded by life insurance policies purchased on each of the principals.
• If a partner becomes disabled and unable to continue, the remaining partner(s) will have the option to wind up the partnership or buy out the disabled partner's interest.
• This legal agreement template is a generic form which can be easily modified to include provisions required by the laws in your area.

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

Key Provisions of the Agreement

• The term of the partnership is open ended, and will continue until all the partners agree to dissolve the partnership.
• Partners may engage in outside business activities so long as they do not compete with the partnership's business.
• The contract sets out a procedure for appointing a managing partner to run the day to day operations.
• 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.
• 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.

Capital Contributions

• 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.

Format and Legal Jurisdiction

This partnership agreement template is available in MS Word format and is fully customizable to fit your specific needs. It is governed by Australian law and is intended to be used only within Australia.