What is a Partnership Deed?

The Partnership Deed is a written document where the terms and conditions of the partnership are mentioned.

It is a legal document signed by all the partners and normally has clauses on the following.

1. Description of the Partners
2. Description of the firm
3. Principal Place of Business
4. Nature of Business
5. Commencement of Partnership
6. Capital Contribution
7. Interest on capital
8. Interest on Drawings
9. Profit Sharing Ratio
10. Interest on Loan
11. Remuneration of Partners
12. Valuation of Goodwill
13. Valuation of Assets
14. Settlement of Account
15. Accounting period
16. Rights and Duties of Partners
17. Duration of Partnership
18. Bank Account Operation
19. Death of Partner
20. Settlement Disputes