The Declaration of Partnership Affidavit is a crucial legal document used in Pakistan when establishing or formalizing a business partnership. This document is particularly important as it serves as official evidence of the partnership's existence and terms, required for various business and legal purposes including bank account opening, government registrations, and contract bidding. The affidavit must comply with the Partnership Act 1932 and other relevant Pakistani legislation, requiring proper stamping and attestation by an authorized Oath Commissioner. It contains sworn statements about partner details, capital contributions, profit-sharing arrangements, and business operations, making it a fundamental document for protecting partners' interests and establishing clear business relationships. The Declaration of Partnership Affidavit is often requested by banks, government authorities, and other institutions as proof of partnership structure and agreements.
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1. Title and Declaration: Formal opening stating this is a Partnership Declaration Affidavit and the solemn nature of the declaration
2. Deponent Details: Full legal names, ages, nationalities, and addresses of all partners making the declaration
3. Partnership Fundamentals: Basic details including partnership name, business address, and commencement date
4. Nature of Business: Detailed description of the partnership's business activities and scope
5. Capital Contribution: Statement of initial capital contributed by each partner
6. Profit and Loss Sharing: Declaration of how profits and losses will be shared among partners
7. Management Rights: Statement of partners' management and decision-making rights
8. Banking Arrangements: Details of partnership bank accounts and operation authorities
9. Verification: Final verification statement confirming the truth of all declarations made
10. Attestation: Space for oath commissioner's attestation and official seal
1. Intellectual Property Rights: Declaration of ownership and rights over intellectual property brought into or created by the partnership
2. Previous Partnership Declaration: Reference to any previous partnership arrangements or dissolution, if this is a reformation
3. Special Powers: Any special powers or authorities granted to specific partners
4. Partnership Duration: If the partnership is for a fixed term, details of the duration
5. Dispute Resolution: Specific arrangements for resolving partnership disputes
6. Succession Planning: Arrangements in case of death or incapacity of partners
1. Schedule A - Partner Details: Detailed information about each partner including ID documents, professional qualifications if relevant
2. Schedule B - Capital Account: Detailed breakdown of capital contributions including any assets contributed in kind
3. Schedule C - Business Assets: List of all assets owned by or transferred to the partnership at formation
4. Appendix 1 - Partnership Premises: Details of business premises including ownership/lease information
5. Appendix 2 - Required Licenses: Copies or details of business licenses and permits held by the partnership
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