Change Partnership Deed
The works and terms of partnership firm are governed by the Partnership Deed, which is executed at the time of formation itself. However, during the course of this partnership, many instances may arise when few changes in the terms of partnership may be required. Partnership deed is a document that contains various policies governing the partners and requires clear understanding of such policies by all the partners. It provides with various terms which are essential to determine before starting up the business such as about profit & loss sharing, salary of the partners, procedure of changes in the partnership deed, capital interest, admitting new partner, etc. with the purpose to bring clarity to the partners.