School of Business

Bangladesh Open University

Assignment
Business Partnership Agreement

Course Title: Introduction to Business and Entrepreneurship

Course Code: BUS 1303

Submitted To
Prof.Dr. Mohammad Zahir Raihan
School of Business
Open University

Submitted By
Shahana Akter
ID: 23234801006
Batch: 21th
Department: PMBA
 Partnership Agreement
Between
Shahana Mohaimen
And
Bipul Mohaimen
Name of the Business Partnership:

Maya Day Care Center

The Partnership Agreement Start and Review dates shall be identical as follows:
Commencement Date: 01.01.2020
Review Date: At the end of every year (December)
 Types of business: Day care center,
Where Parents drop off their children during the day for care, super vision and
learning. Keeping everything safe, Clutter -free and clean is a vital aspect of
operating a structured and efficient day care

Location of the Business:

House No: 20, Road No: 1
Block-D, Tajmahal Road,
Mohammadpur, Dhaka-1207

Expected life of the Partnership:

The life of a partnership may be established as a certain number of years by
the agreement. If no such agreement is made the death, inability to carry
out.

Name of the Partners and the amount of each one’s investment:

Shahana Mohaimen Bipul Mohaimen

House No-50, Road No-26 House No-23, Road No-1
Nurjahan Road, Tajmohol Road,
Mohammadpur, Dhaka-1207 Mohammadpur, Dhaka-1207
Inv. Amount: 5,00,000/Lac Inv. Amount: 5,00,000/Lac
Procedure of distributing profits and covering losses:
Partners Should share profit and losses equally and covered losses an
insurance company will provide.

Amounts that partners will withdraw of funds:

A withdrawal is a removal of funds from an account, Plan, Pension or trust.
Internal revenue service takes 10% of the withdrawal amounts.
Procedure for withdrawal of funds: A withdrawal involves removing funds
from a bank account, Savings plan, pension or trust. In some cases,
Conditions must be met to withdraw funds without a penalty.

Duties, Power and obligation of each Partners: partners are bound to

carry on the business of the firm to the greatest common advantage to the
just and faithful to each other and to render true accounts and full
information of all thing’s affection the firm to any partner or his legal
representative.

Arrangement in case of a Partner becomes insolvent: where a

partner in adjudicated an insolvent he ceases to be a partner on the date on
which the order of adjudication is made, whether or not the firm is hereby
dissolved.
 Procedure for dissolving the Partnership:

Any other clauses: It can be for profit entities or non- profit organizations
fulfilling a charitable mission or furthering a social cause. The business also
refers to the efforts and activities under taken by individuals to produce and
sell goods and services for profit.

Partnership can be a successful way to run a business, but it can also destroy
friendships. Picking the right partner is a vital step in the strategic planning of
a business. All partners should enter into a general contract with all
expectations clearly stated in writing for their own protection as well as the
protection of the partner