The partnership deed is a administrative constitution of partnership firm, where all provisions pertaining to firms administration are included.
Generally, following content is included in the partnership deed.
- The information relating to partners name, address and other details.
- The information relating to firm’s name, address, type of business, commencement date etc.
- Capital
- Interest on capital.
- Drawings.
- Interest on drawings.
- Profit and loss sharing ratio.
- Interest on loan provided by partner to the firm.
- Salary, Bonus, remuneration etc to the partners.
- Admission and retirement of a partner.
- Goodwill of the firm.
- Dissolution of partnership firm.