Partnership Agreement Bd

There is no interest on the company`s first capital position or on any subsequent contributions to the capital. The parties create below a semi- pairing company under the name….., called … In the future. A partner agreement creates a partnership; they share reciprocal rights and obligations. There must therefore be the agreement of all partners in the interest of a company. However, these contracts are governed by the Partnership Act 1931. In general missions, partners are required to conduct the company`s business to the greatest common advantage. They should remain faithful to each other and remain faithful to all things that concern the company, to all the partners of its legal representatives with all the information (Article 9). In this section, the relationship is considered one of the “very good beliefs,” although partners are not trustees for each other.

In some cases, the relationship between partners is held in trust. In conclusion, each partner is obliged to compensate the company for any damage it has suffered as a result of its fraud in the business (Article 10). 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. 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. Anyone can enter into a partnership if they have the capacity, because cooperation cannot be established without an agreement. A person with a “non-solid mind” cannot be a partner. All partnership funds are deposited into a bank account in the company`s name. Total capital: BDT 3.00,000 (Bangladeshi Taka; Three Lac Only) If the partners decide to add more capital to the partner company, both partners can contribute to the capital. The capital made available by each partner is always maintained in relation to the partners who share the benefits and losses of the partnership. No partner should withdraw part of its capital without the mutual agreement of the partners.

6. Profits and losses from the net income of the partnership are divided equally among the partners and net losses should be shared equally. All entity debts must be borne, mitigated and managed by both parties. 7. Wages and Withdrawals No partner receives a salary for partnership benefits. Each partner can withdraw the agreed amount from time to time. Interest is not paid on the initial contribution to the company or on subsequent contributions to the capital. 9. Partnership Responsibility Restrictions Partners should have the same rights in the management of a partner business and each partner should have sufficient time to operate.