The General Partnership Contract is a fundamental document used when two or more parties wish to establish a business partnership in Indonesia. This contract type is particularly important as it creates a legal framework for joint business operations under Indonesian law, specifically regulated by the Commercial Code (KUHD) and Civil Code (KUHPerdata). It's essential when partners want to combine their resources, expertise, and efforts to conduct business while sharing profits and losses. The document addresses crucial aspects such as capital contributions, profit distribution, management rights, partner obligations, and dissolution procedures. Partners in this arrangement typically have unlimited liability for partnership debts, making it crucial to clearly define roles, responsibilities, and risk-sharing mechanisms. The contract must comply with Indonesian registration requirements and may need notarization depending on specific circumstances.
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1. Parties: Identification and details of all partners entering the partnership agreement
2. Background: Context of the partnership formation and partners' intentions
3. Definitions: Definitions of key terms used throughout the agreement
4. Partnership Formation: Declaration of partnership establishment, name, and effective date
5. Business Purpose: Detailed description of partnership's business activities and objectives
6. Capital Contributions: Initial and ongoing capital contributions from each partner
7. Profit and Loss Sharing: Distribution of profits and allocation of losses among partners
8. Management and Control: Partnership management structure and decision-making processes
9. Rights and Obligations: Detailed rights and responsibilities of all partners
10. Banking and Financial Matters: Banking arrangements and financial management procedures
11. Accounting and Records: Requirements for maintaining financial records and conducting audits
12. Admission of New Partners: Process and conditions for admitting new partners
13. Transfer of Partnership Interest: Rules regarding transfer of partnership shares
14. Withdrawal and Retirement: Procedures for partner withdrawal or retirement
15. Dissolution and Liquidation: Circumstances and procedures for partnership dissolution
16. Dispute Resolution: Methods for resolving disputes between partners
17. Governing Law: Specification of Indonesian law as governing law
18. Notices: Procedures for formal communications between partners
19. General Provisions: Miscellaneous legal provisions including severability and entire agreement
1. Intellectual Property Rights: Required when the partnership owns or develops intellectual property
2. Non-Competition: Include when partners agree to restrictions on competing activities
3. Confidentiality: Required when partnership involves sensitive business information
4. Insurance: Include when specific insurance requirements need to be maintained
5. Foreign Investment Provisions: Required when partnership includes foreign partners
6. Environmental Compliance: Include for partnerships in industries with environmental impacts
7. Employee Management: Required when partnership will have employees
8. Property Ownership: Include when partnership will own or lease property
1. Schedule A - Capital Contributions: Detailed breakdown of each partner's initial and committed capital contributions
2. Schedule B - Profit Sharing Ratios: Specific percentages and formulas for profit and loss distribution
3. Schedule C - Partner Information: Detailed information about each partner including contact details and representatives
4. Schedule D - Business Plan: Initial business plan and strategic objectives
5. Schedule E - Partnership Assets: List of assets contributed to or owned by the partnership
6. Appendix 1 - Management Procedures: Detailed procedures for partnership management and decision-making
7. Appendix 2 - Banking Arrangements: Details of banking procedures and authorized signatories
8. Appendix 3 - Accounting Policies: Specific accounting policies and procedures to be followed
Relevant legal definitions
Clauses
Relevant Industries
Professional Services
Retail Trade
Manufacturing
Construction
Agriculture
Consulting
Food and Beverage
Technology
Real Estate
Import/Export
Wholesale Trade
Creative Industries
Healthcare Services
Education Services
Relevant Teams
Legal
Finance
Corporate Secretariat
Compliance
Risk Management
Business Development
Operations
Commercial
Strategy
Corporate Affairs
Relevant Roles
Chief Executive Officer
Managing Director
Business Owner
Legal Counsel
Corporate Lawyer
Business Development Manager
Finance Director
Chief Financial Officer
Company Secretary
Risk Manager
Compliance Officer
Partner
Managing Partner
Operations Director
Commercial Director
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