Posted on December 6, 2020 in
Written by: David B. Honig
AND CONSIDERING that the parties have agreed on the terms of this partnership, as outlined below. Shareholders contribute to the partnership`s capital in the following way: the net profit of the partnership is distributed equally among the partners and the net losses are borne equally by them. Without the agreement of the other partner, none of the partners can lend or lend money in the name of the partnership; Make, provide or accept promotional paper or execute any mortgage, security, loan or lease agreement; or the purchase or contract of sale; or to sell or sell a property other than the type of property purchased and sold as part of its activities, for or for the partnership. Partnership books are kept at the partnership`s main office and are available to each partner at all times. Accounts are held on a year-over-year basis and are closed and balanced at the end of each fiscal year. All partnership funds are deposited into a bank account in the company`s name. Neither partner receives a salary for the partnership benefits. Each partner may withdraw from time to time an amount agreed upon by mutual agreement on the account. CONSIDERING that the parties have agreed to the partnership; and the parties heresy create a semi-ed under the name…………….. »… In the future. If the partners decide to add more capital to the partnership, both partners can contribute to the capital. Partners have equal rights over the management of the partnership company and each partner spends enough time managing the business. The adequacy of the time spent by the partners must be agreed between the partners.
Management is assured by mutual agreement between the two partners in all circumstances. In the event of a dispute in this case, the partners will settle them by mutual agreement, either mutually or in the presence of a third-party mediator. CONSIDERING that, as part of this agreement, the parties created a partnership company on behalf of “w3builder” and also agreed to take over all the profits and commitments of the “w3builder” company created by the same partners on the basis of an oral agreement of 23 August 2013. The capital supported by each partner is maintained at all times in the units in which the partners participate in the profits and losses of the company. There is no interest on the company`s first capital position or on any subsequent contributions to the capital. All partners are also expected to refrain from disclosing internal company information outside the partnership. Neither partner should withdraw a portion of their capital without mutual agreement between the partners. . Total capital: BDT 3.00,000 (Bangladeshi Taka; Three Lake Only) WHEREAS, the parties agreed for the same and on the following terms; . Law Help BD is a platform for sharing legal knowledge, it is not an alternative to a lawyer.