Registration of PartnershipFirm in Pakistan—Sample Partnership Deed-Rehan aziz Shervani (Advocate High Court)-0333-4324961-for Registration process see 99 Lectures on Business Law
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Registration of Partnership/Firm in Pakistan—Sample Partnership DeedCourtesy byRehan Aziz Shervaniof RAK LawAssociates (Advocate High Court)0333-4324961-for Registration process see 99 Lectures on Business Law ===========================
“Partnership Deed” This Deed of Partnership is Made on This July 13th , 2010, By & Between: Fahim Sher khan S/O Sheikh Mehiuddin, aged 31 Years, CNIC # 420001-37970989897778-9000000, presently residing at United Arab Emirates; permanent address in Pakistan: A-10009935, Block-D, North Nazimabad, Karachi, hereinafter referred to as, ‘ the Party of the FIRST PART’. 2. Skeeema Saforee W/O tipu khan pathan Shaikh, aged 33 years, CNIC # 42065652-40987000008700-0, presently residing at United Arab Emirates; permanent address in Pakistan: A-130989875, Block-D, North Nazimabad, Karachi, hereinafter referred to as, ‘ the Party of the SECOND PART’ 1.
WHEREAS, the above-mentioned parties are fervent to initiate business of engineering, supplies and manufacturing of flanges and valves, commissioning, civil, electrical, mechanical work etc. including any other business incidental thereto & any other business as may be agreed upon, time to time, by the partners under the name and style “ENGINEERING & OILFILELD SUPPLIES COMPANY”. WHEREAS, it is expedient to reduce the ‘terms’ and ‘conditions’ of the partnership relationship in writing. Now This Deed Witnesseth as Under:
1. That the partnership business shall come into effect from July 13th , 2010. 2. That the business shall be carried on under the name and style: “ENGINEERING & OILFIELD SUPPLIES COMPANY”. 3. The head office of the firm shall be situated at 6909098776-KNnm, Commercial, 2nd Floor, Phase I, DHA, Lahore or at any other place (s) as may be decided by the partners from time to time. 4. The firm’s business shall be: (a) to carry on manufacturing & supplying of engineering provisions; equipments; materials; goods; stores including flanges and valves. (b) to execute civil, electrical, mechanical, engineering projects. (c) to carry on any other business as may be mutually agreed upon, time to time, by the partners. 5. The duration of the partnership shall be ‘at will’. 6. The ‘Profit & Loss Ratio’ between the partners shall be as under: Party of the First Part:
Party of the Second Part: 5% 7. The party of the first part shall be the ‘Managing Partner’ of the firm; will exercise complete authority to manage all the affairs of the firm. 8. The party of the second part shall be a ‘Sleeping Partner’. 9. The Managing Partner on behalf of the firm is authorized to borrow or raise money from any bank or financial institution(s) as the case may be. 10. Neither partner can assign his interest in the firm to any person without the consent of the other. 11. No any new partner can be admitted in the firm unless the partners mutually agreed thereupon. 12. Required ‘Books of Accounts’ shall be kept and maintained by the firm at the head office. 13. ‘Firm’s bank Account (s)’ shall be operated solely by the party of the first part. 14. The ‘Good Will’ of the firm will belong to the partners. 15. The ‘Statement of Assets and Liabilities’, after making final adjustments, shall be prepared at the end of every financial year. 16. The Accounts of the firm shall be closed at the end of every Financial Year id-est on 3oth June. 17. Any term of this deed, without executing a fresh partnership deed, may be varied, altered or amended mutually by the partners. 18. Any dispute arising between the partners shall be referred to arbitration under The Arbitration Act. 19. Subject to the provisions mentioned as above, the partnership relation shall lope inconformity with the provisions of the Partnership Act 1932, or any other law enforced for the time being in Pakistan.
IN WITNESS WHEREOF, the partners on the date mentioned as above have agreed to set their respective hands on this partnership deed as under: Particulars, Signatures & Thumb Impressions of Witnesses: (1) Muneer khan pathan Ahmed Awan S/O Kareen Awan khan peshawar, CNIC# 35989876200-1575498765460, R/O House # 311987654,Mohallah Block-G486. M.A Johar Town, Lahore.
Signatures & Thumb Impressions of the Partners:
Party of the First Part
(2) Amiutn Butt S/O Hangrdfeez-urRehman, CNIC# 3598762023918876543045-9, R/O House # 9902, Street # 096, Mohallah Muslim Colony, Bastamee Road, Samman-abad, Lahore. Party of the Second Part