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Terms And Conditions For Partnership Agreement
"I need Terms And Conditions For Partnership Agreement for a professional services consulting firm being established in Dubai, UAE between three partners (two local and one international), with specific provisions for profit sharing based on both capital contribution and active involvement, to be effective from March 1, 2025."
1. Parties: Identification of all partnership parties with full legal names and addresses
2. Background: Context of the partnership formation and brief description of partners' intention to enter into the partnership
3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules of interpretation
4. Partnership Structure and Purpose: Legal structure of the partnership and its primary business objectives
5. Capital Contributions: Details of initial and any subsequent capital contributions by partners
6. Profit and Loss Sharing: Formula and mechanics for distribution of profits and allocation of losses
7. Management and Decision Making: Partnership management structure, voting rights, and decision-making processes
8. Partners' Duties and Obligations: Specific responsibilities, duties, and obligations of each partner
9. Financial Management: Procedures for financial management, accounting, and maintenance of partnership records
10. Banking and Financial Arrangements: Details of partnership bank accounts and financial control procedures
11. Transfer of Partnership Interest: Rules and procedures for transferring partnership interests
12. Duration and Termination: Term of partnership and circumstances leading to termination
13. Dispute Resolution: Procedures for resolving disputes between partners, including arbitration provisions
14. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant jurisdiction
1. Intellectual Property Rights: Provisions regarding ownership and use of intellectual property in partnerships involving IP assets
2. Non-Competition and Confidentiality: Restrictions on competitive activities and protection of confidential information
3. International Operations: Special provisions for partnerships operating across multiple jurisdictions
4. Islamic Finance Compliance: Specific provisions ensuring compliance with Islamic finance principles if required
5. Force Majeure: Provisions dealing with unforeseen circumstances affecting partnership operations
6. Insurance: Requirements for insurance coverage of partnership activities and assets
7. Environmental Compliance: Environmental obligations for partnerships in industries with environmental impact
8. Third Party Rights: Provisions regarding the rights of third parties in relation to the partnership
1. Schedule 1 - Capital Contributions: Detailed breakdown of each partner's capital contributions, including valuations of non-cash contributions
2. Schedule 2 - Profit Sharing Ratios: Detailed formulas and calculations for profit and loss distribution
3. Schedule 3 - Management Structure: Detailed organizational chart and management responsibilities
4. Schedule 4 - Business Plan: Initial business plan and strategic objectives of the partnership
5. Schedule 5 - Partner Contact Details: Complete contact information and communication protocols for all partners
6. Appendix A - Required Licenses and Permits: List of all required licenses and permits for partnership operation
7. Appendix B - Partnership Policies: Key operational policies and procedures
8. Appendix C - Signatories and Powers: List of authorized signatories and their respective powers
Authors
Professional Services
Real Estate
Trading
Manufacturing
Technology
Consulting
Construction
Retail
Healthcare
Hospitality
Financial Services
Education
Media and Entertainment
Logistics
Food and Beverage
Legal
Finance
Corporate Affairs
Compliance
Risk Management
Business Development
Operations
Strategy
Investment
Corporate Governance
Executive Leadership
CEO
Managing Director
Business Development Manager
Legal Counsel
Corporate Lawyer
Chief Financial Officer
Finance Director
Operations Manager
Company Secretary
Partner
Managing Partner
Business Owner
Compliance Officer
Risk Manager
Investment Manager
Strategy Director
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