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Partnership Agreement Between Two CompaniesPartnership Agreement Between Two Companies

A partnership agreement in which each partner is a company.

This Partnership Agreement:

  • Includes a director’s guarantee for each partner company
  • Each guarantor is appointed to act exclusively on behalf of the company he or she guarantees
  • Each guarantor also guarantees the performance of its respective company in relation to the other partners in the partnership

CONTENTS

  • 1          Interpretation
  • 2          Commencement and term
  • 3          Premises
  • 4          Capital, assets and profits/losses of the partnership
  • 5          Drawings
  • 6          Expenses
  • 7          Bank account
  • 8          Lawyers and Accountants
  • 9          Books and accounts
  • 10       Annual accounts
  • 11       Decisions and acts of the Partners
  • 12       Insurance
  • 13       Duties of the Partners
  • 14       Restrictions on Partners
  • 15       Dispute resolution
  • 16       Winding up of the Partnership
  • 17       Notices
  • 18       Proper law
  • 19       Waivers
  • 20       Cumulative Rights
  • 21       Further Assurances
  • 22       Severability
  • 23       Guarantee and Indemnity

This Partnership Agreement between two Companies is :

  • 27 pages long

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A partnership involves two or more individuals, groups, companies or corporations. Each partner participates in business operations and is liable for company actions. 

A partnership can be a:

  • family partnership – where two or more partners are related
  • limited partnership – where liability of debts and obligations for one or more partners is limited
  • ‘other’ partnership – where partners are equally responsible for the business and have unlimited liability for the debts and obligations (commonly known as a general law partnership)

For more general information on Partnership Agreements please visit https://www.abr.gov.au/ 

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