The Partnership Agreement Template
Without a detailed partnership agreement, disputes will have to be resolved in line with the Partnership Act of 1890 - hardly the best and most up-to-date approach. This very detailed agreement ensures compliance with the law and addresses many difficult areas at a fraction of the usual cost.
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Standard and Fixed Term Partnership Agreements
Many partnerships do not have up-to-date agreements in place. A partner may have left or joined, stake holding may have been altered and other changes may have been made.
A failure to put in place an up-to-date partnership agreement means that the surgery is normally governed by the provisions of the Partnership Act dating from 1890! This can be very difficult when disputes arise.
The first thing to note about our Specimen Partnership Agreement is not only that it is exceptional, but that it is available for only £300 + VAT. Given how comprehensive the deed is, this represents phenomenal value.
Further, given that our Specimen Partnership Agreement is a professionally drafted partnership agreement, tailored to the needs of medical practices, it can be used almost immediately.
The agreement can be easily tailored to a surgery’s specific needs. The Specimen Partnership Agreement comes with a detailed commentary, which explains the purpose and meaning of each clause.
The Specimen Partnership Agreement also assists with partnership disputes and contains a mechanism for resolving them.
The Partnership Deed was drafted by Primary Care Law and one of the leading Partnership Experts in the country.
Package includes:
- The highly detailed and comprehensive Fixed Share Partnership Agreement of almost thirty clauses.
- Our Partnership Deed, a fully customisable Deed for the surgery which allows for the inclusion of one or more fixed share partners, and includes extensive guidance
- Full explanatory notes and guidance on completing the Agreement
- Detailed explanations of the legal background and considerations involved in forming a Fixed Share Partnership
Contents include:
The Partnership Agreement includes:
- Framework, Definitions, Interpretations
- Commencement, Effect, Name, Duration
- Place of Business
- Property and Liabilities
- Capital
- Profit Share and Losses
- Drawings
- Expenses
- Bookkeeping and Accounts
- Provision of Tax Liabilities
- Bank Accounts
- Leave and Locum Expenses
- Insurance
- Partner Duties
- Partner Restrictions
- PMS Obligations
- Officers
- Appointments, Approved Liabilities and Partners' Income
- Meetings and Procedures for Decision Making
- Unanimous and Special Decisions
- Management Committee
- Managing Partner and Senior Partner
- Restrictions on Voting Rights of Non-GP Partners
- Admission of New Partners
- Salaried and Fixed Share Partners
- Expulsion
- Compulsory Retirement and Retirement Due to Age and Death
- Voluntary Retirement
- Gardening Leave and Suspension
- Former Partners and Their Entitlements
- Covenants
- Dissolution
- Arbitration and Dispute Resolution
- Alterations
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