PARTNERSHIP AGREEMENT
This partnership agreement was made and entered into this (DATE)________________. The
partners in this agreement are as follows:
Earl Dominic Dimasangal
____________________
The partners to this agreement agree to the following:
I.
Formation
By this Agreement, the Partners enter into a Partnership, in accordance with the
laws. The rights and obligations of the partner will be as stated in the
applicable/existing laws within the state except as otherwise provided in this
Agreement.
II.
Name and Place of Business
This partnership will be known Sabon Station San Carlos Brgy. ______________ and
it will only be allowed to operate within the area/Brgy stated in the contract.
III.
Effective date
If the Agreement is executed, the Partnership will be in effect on (DATE)__________
IV.
New Partners
No person shall be allowed to be admitted as new Partner except with the
unanimous consent of the Partners. The admission of the new Partner will dissolve
the existing Partnership and a New Partnership Contract shall be executed.
V.
Contributions
Partner _______________ will make an initial contribution of Php. 20,000.00 and in
exchange other Partner, (Earl Dominic Dimasangal) will grant the partnership the
privilege to use the name of Sabon Station, Classified as Brgy. Mini Station and Grant
the partnership Exclusive rights to Open refilling/Retail Store within the Brgy. covered.
VI.
COST and PROFITS
The Partner ___________________ shall be entitled full share in Profits and Losses.
As well as the Cost to be incurred upon delivery or shipment of the products to its
designated Brgy. Provided that the partnership will only be allowed to get all its
supplies to Sabon Station San Carlos City. (PAKI CHECK if okay? Pero if pwede la kuma
other supplies like plastic 1l or 1gallon keng aliwa) PAKI ENGLISH NADIN.
VII.
Withdrawal of Partner or Death
Any partner may withdraw into the partnership at any time. Provided that notification
must be made 30 days prior to the prior to the withdrawal of the existing partner.
Upon Termination, all partners shall be notified immediately. Upon death of a Partner,
the remaining Partners have the right to buy out the share of the deceased partner.
VIII.
Dissolution
Pa include namu inclusion keng Dissolution, IF PAG ME DISSOLVE PA IBALIK LA DENG
PRODUCTS THEN I REFUND OR WHAT.
IX.
AMENDMENTS
All Amendments must be made in writing ang must be communicated with other
partners and must have original signatures of all the Partners.
X.
Dispute Resolution
The partners will attempt to resolve any Dispute arising out of or relating to the
Partnership or this Agreement through friendly negotiations amongst the Partners.
IN WITNESS WHEREOF, This Agreement has been executed and delivered in the manner
prescribe by the law as Effective date first written above.
Earl Dominic Dimasangal, CPA
(NAME OF PARTNER/s)
(CEO, Sabon Station San Carlos City)
Date Signed:
Date Signed: