THE PARTNERSHIPACT

(CAP 29 Laws of Kenya)

DEED OF PARTNERSHIP
MADE ON THIS 31ST DAY OF JANUARY 2023
FOR EDCO GENERAL SERVICES AND SUPPLIERS.

DRWAN AND FILED BY SJ AND CO. ADVOCATES

ADVOCATE & COMMISSIONERS FOR OATHS.
SIFA HOUSE
1ST FLOOR ROMM 08
P.O BOX 147-40100
KISUMU – KENYA
 DEED OF PARTNERSHIP
THIS DEED OF PARTNERSHIP made on this 29th day of FEBRUARY Two Thousand
Twenty Three BETWEEN M/s RUTH AWINO of ID No. 28043183 and Post Office Box 10-
40107 MUHORONI in the Republic of Kenya henceforth referred to as “RUTH” and M/s
DAVID OWITI OYIE of ID No. 23832869 and Post Office Box 10-40107 MUHORONI in
the Republic of Kenya hereinafter referred to as “DAVID” (collectively hereinafter called
“Partners” which expression shall where the context so admit include their personal
representatives assign)
WITNESSETH as follows:
1. TYPE OF BUSINESS
THAT the partners hereto agree to carry on business of Building/Civil Works, Supply of
Building Materials, General Maintenance Works and General Goods Supply in partnership under
continue during the style of EDCO GENERAL SERVICES AND SUPPLIERS.
2. START OF BUSINESS
THAT the business commenced on the 31st day of JANUARY Two Thousand and Nineteen
subject to the provisions for retirement and or dissolution hereinafter contained shall continue
during the joint lives of the parties hereto and their heirs.
3. PLACE OF BUSINESS
THAT the principal place of business for the partnership shall be Kisumu County and any such
other place or places as the partners may from time agree.
4. OWNERSHIP/CAPITAL CONTRIBUTION.
The overall capital for the partnership shall be Kshs. 1,000,000(Kenya Shillings One Million
Only) and this has been contributed by partners as follows:
i. RUTH AWINO - Kshs. 750,000 (75%)
ii. DAVID OWITI OYIE - Kshs. 250,000 (25%)
5. PROFIT AND LOSSES
The net profits and loss shall be divided in the ration of each partner as described in clause 4
above.
6. SALARIES AND DRAWINGS
Neither partner shall receive any salary for services rendered towards the partnership business.
7. MANAGEMENT DUTIES AND RESTRICTIONS
The managing partner shall be RUTH AWINO. The partner’s rights in the management of the
partnership business shall be according to the capital contribution of each partner. Each partner
shall devote their entire time to the conduct of the business. Without the consent of the managing
partner, the partnership shall not borrow or lend money, or make, deliver, or accept any
commercial paper, or execute any mortgage, security agreement, bond, or lease, or purchase or
contract to purchase, or sell or contract to sell any property for or of the partnership other than
the type of property brought and sold in regular course of its business.
8. BANKING
The mandatory signatory to the capital account shall be RUTH AWINO. All funds of the
partnership shall be deposited in its name in such checking account or accounts as shall be
designated by the partners. All withdrawals are to be made upon checks by the managing partner.
9. BOOKS
The partnership books shall be maintained at the principal office of the partnership, and each
partner shall at all times have access thereto. The books shall be kept on a fiscal year basis,
commencing 16th January, 2023 and ending 15th January, 2024 and shall be closed and balanced
at the end of each fiscal year. And audit shall be made as of the closing date.
10. VOLUNTARY TERMINATION
The partnership may be dissolve at any time by agreement of the partners, in which event the
partners shall proceed with reasonable promptness to liquidate the business of the partnership.
The partnership name shall be sold with other assets of the business. The assets of the
partnership shall be used and distributed in the following order: (a) to pay or provide for the
payment of all partnership liabilities and liquidating expenses and obligations; (b) to equalize
income accounts of the partners; (c) to discharge the balance of the income accounts of the
partners; (d) to equalize the capital accounts of the partners; and (e) to discharge the balance of
the capital accounts of the partners.
11. DEATH
Upon the death of either partners, the surviving partner shall have the right either to purchase the
interest of the decedent in the partnership or to terminate and liquidate the partnership business.
If the surviving partner elects to purchase the decedent’s interest, he shall serve notice in wring
of such election, within three months after the death of the decedent, upon the executor or
administrator of the decedent, or, if at the time of such election no legal representative has been
appointed, upon any one of the known legal heirs of the decedent at the last-known address of
such heir. If the surviving partner elects to purchase the interest of the decedent in the
partnership, the purchase price shall be equal to the decedent’s capital account as at the date of
death.
12. ARBITRATION
All disputes arising from this agreement shall as much as possible be settled by mutual
consultation among the partners but in the event the partners shall fail to reach a settlement, such
dispute shall be referred to a single arbitrator agreed by all partners.
IN WITNESS WHEREOF all the partners hereto have hereunto set their hands the day and
year herein before written.

SIGNED by the Said }

RUTH AWINO } …………………………
} ID NO. 28043183
In the presence of: }
}
}
}
SIGNED by the Said }
DAVID OWITI OYIE } ……………………….
} ID NO. 23832869
}
In the presence of: }
}
}