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Deed Of Partnership Between Two Partners for United Arab Emirates

Deed Of Partnership Between Two Partners Template for United Arab Emirates

A comprehensive legal document governed by UAE law that establishes and regulates a partnership between two parties. This document outlines the terms and conditions of the business relationship, including capital contributions, profit sharing, management responsibilities, and operational procedures. It complies with UAE Federal Law No. 32 of 2021 (Commercial Companies Law) and relevant local emirate regulations, providing a legally binding framework for the partnership's formation, operation, and potential dissolution. The deed includes essential provisions for dispute resolution and partner obligations while adhering to UAE commercial regulations and legal requirements.

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Deed Of Partnership Between Two Partners

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What is a Deed Of Partnership Between Two Partners?

The Deed Of Partnership Between Two Partners is a fundamental legal document used in the United Arab Emirates when two parties wish to establish a formal business partnership. This document is essential for compliance with UAE Federal Law No. 32 of 2021 and must be executed according to local regulatory requirements. It serves as the founding document of the partnership, detailing critical aspects such as capital contributions, profit-sharing ratios, management responsibilities, and operational procedures. The deed is particularly important in the UAE context as it must address specific local business ownership requirements, commercial regulations, and legal frameworks. It provides partners with legal protection and clarity regarding their rights, obligations, and remedies under UAE law, while establishing a clear governance structure for the partnership.

What sections should be included in a Deed Of Partnership Between Two Partners?

1. Parties: Identification and details of both partners, including full legal names, addresses, and nationality

2. Background: Context of the partnership formation and brief description of the business purpose

3. Definitions: Defined terms used throughout the agreement for clarity and consistency

4. Partnership Name and Business: Official name of the partnership and detailed description of business activities

5. Term and Commencement: Duration of the partnership and effective date

6. Capital Contribution: Details of initial and any agreed future capital contributions from each partner

7. Profit and Loss Sharing: Ratio and mechanism for distribution of profits and allocation of losses

8. Management and Control: Management structure, decision-making process, and partners' authorities

9. Banking and Finance: Banking arrangements, signing authorities, and financial management procedures

10. Partners' Duties and Obligations: Specific responsibilities and commitments of each partner

11. Restrictions on Partners: Non-compete and other restrictive covenants

12. Accounts and Records: Requirements for maintaining financial records and conducting audits

13. Partnership Property: Ownership and handling of partnership assets

14. Termination: Circumstances and procedures for partnership termination

15. Governing Law and Jurisdiction: Confirmation of UAE law application and dispute resolution mechanisms

What sections are optional to include in a Deed Of Partnership Between Two Partners?

1. Intellectual Property Rights: Include when the partnership involves creation or use of intellectual property

2. Good Faith and Fair Dealing: Additional provisions for partners' conduct, recommended for complex partnerships

3. Force Majeure: Include when specific provisions for unforeseen circumstances are needed

4. Insurance: Include when specific insurance requirements need to be documented

5. Employee Matters: Include when the partnership will have employees

6. Additional Capital Contributions: Include when there's possibility of future capital needs

7. Exit Strategy: Include detailed provisions for partner exit when requested by partners

8. Dispute Resolution: Include detailed arbitration or mediation procedures if preferred over court proceedings

What schedules should be included in a Deed Of Partnership Between Two Partners?

1. Schedule 1 - Capital Contributions: Detailed breakdown of initial capital contributions including cash, assets, or services

2. Schedule 2 - Business Plan: Initial business plan and projections

3. Schedule 3 - Property and Assets: List of partnership property and assets with valuations

4. Schedule 4 - Management Responsibilities: Detailed allocation of management duties and responsibilities

5. Schedule 5 - Accounting Policies: Specific accounting principles and procedures to be followed

6. Appendix A - Partner Information: Detailed information about partners including contact details and identification documents

7. Appendix B - Required Licenses: List of required business licenses and permits

8. Appendix C - Bank Account Details: Partnership bank account information and signing authorities

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Cost

Free to use
Relevant legal definitions








































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Relevant Industries

Professional Services

Retail

Trading

Consulting

Manufacturing

Technology

Real Estate

Food and Beverage

Healthcare

Construction

Education

Hospitality

Relevant Teams

Legal

Corporate Affairs

Finance

Compliance

Risk Management

Business Development

Operations

Company Secretariat

Commercial

Relevant Roles

Business Owner

Managing Partner

Legal Counsel

Corporate Lawyer

Business Development Manager

Chief Executive Officer

Chief Financial Officer

Company Secretary

Compliance Officer

Operations Manager

Partnership Manager

Risk Manager

Commercial Director

Business Consultant

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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