Partnership Deed Format

Partnership Deed

To avoid unnecessary dispute among the partners with misunderstanding a legal document is written, this came to be known as Partnership Deed. Under the Indian Registration Act, 1908 for a mutual benefit the registration of Partnership Deed is made. Signing a Partnership Deed helps to avoid the angst of partnership deed being humiliated or mutilated in the possession of partners. To make a change in the term of partnership firm, an amendment agreement can be added with no time margin.

Why and When?

Individuals planning to start a partnership business together usually sign the partnership deed/agreement. Every partnership firms are recommended on making such an agreement within themselves to avoid future dispute and avoid misunderstanding.
Perks of signing a partnership agreement will make the firm eligible for obtaining PAN and GST IE Code or FSSAI license in a partnership firm, easy applying for a bank loan and bank account in Partnership Firm name, and many more.

How?

A partnership agreement is made/printed on a Non-Judicial Stamp Paper costing 100/- and + depending upon the properties held by the organization. Once it is printed on stamp paper, all the partners must sign the agreement, this happens in the presence of whole members of the partnership firm. A copy of this can be kept by themselves for his/her record.