Partner Matters Agreement
A partner matters agreement is an agreement entered into by two individuals or two organizations entering into a partnership business with each other. The main purpose of drafting this agreement is to highlight the important matters involved between or the terms and conditions required to be followed by both the parties. These matters include the amount of capital to be brought in, the percentage of sharing profit and losses etc.
Sample Partner Matters Agreement:
This Partner matters Agreement has been drafted and entered into on this day of 15th November, 2011 between Tom Lee residing at 34 Roger Moore Street, New York, Nevada and Huck Bay residing at 23 Tiny Mini Road, new York, Nevada as both the parties are entering into a partnership business with office being located at:
Tech Web Towers,
21 Lee Cooper St,
New York, Nevada.
The matters that both the parties have agreed to in this agreement are as follows:
- Tom Lee will pay the full deposit amount required for renting the office place whereas Huck Bay will pay the rent of first three months in advance.
- Both profit and losses will be shared between Tom Lee and Huck Bay in a percentage of sixty percent and forty percent respectively.
- In case the business terminates, the amount recovered after selling off assets and clearing liabilities will be shared on an equal basis.
- Proper records should be maintained throughout the partnership tenure and both the partners will have access to all the records.
Tom Lee Huck Bay
Category: Partnership Agreements