PARTNERSHIP AGREEMENT

An agreement made on ……..day of …......2020 between;

1. …………………………………….of ID NO…………………….
2. ……………………………………of ID NO…………………….
To enter into business partnership. Ownership of 50% to (...............................ID NO
...........,50% to (.................................ID NO......................

1.We hereby do agree that any profits and losses realized in the business will be shared in the ratio
of 50/100 and 50/100

2.The partnership is to operate on principle of utmost good faith, such that incase of a violation of
the principle ,the partnership ceases to exist and the patners are to close shop and the business
proceeds and assets (those that were bought since the agreement was effected) to be shared out in
the ratio 1:1

3.Incase one of the patners want out of the partnership for any reason then the patner is eligible for
a refund of the patners contibutions plus the proceeds that have accrued since start of operations
plus the share of the retained profits plus an interest of 12% on the retained profits to be paid to
the patner.

I have read and understood what is stated in this agreement and do hereby agree to be part and
parcel of this partnership.i do agree to abide with the terms as stated in this agreement.

1……………………………………..ID NO……………..SIGN…………....

WITNESS……….…………………….SIGN…………………….

2……………………………………..ID NO……………..SIGN…………....

WITNESS………………………………SIGN……………………...

3.CHIEF/ASSISTANT CHIEF

…………………………………….…………………SIGN……………………………..