We have the IT Factor

Salient Features of Partnership Contract

For a partnership package, a Partnership Agreement document has to be signed by all parties who intend to partner with Parekh Information technology.

Sections covered in the agreement include the following:

Making Partners

This section defines the basic information regarding a Partner including Name, residence, place of business and contact information of joining partner.

Partnership

This section defines the basic information of the Partnership including Model, Term, and Location and Jurisdiction of partnership. Depending on the model of partnership, it will also include Total Capital required for a start up, the amount contributed by Parekh Information Technology and the other partners.  The terms governing the dissolution of any or all partners along with withdrawing of his/her/their capital and share is also stated. This section also includes apportioning the ownership of Company assets to different Partners, if required by the partnership model, and details of each partner’s share of Investment is kept on record. This record will be used for reference in the event any of the Partners decide to disassociate himself/herself/themselves from the partnership.

Work Ethics

Documented procedure of ways to carry out business related Tasks. Business Processes specific to partnership should be established and adhered to by all partners. Details will include information on your skills, experience and good work Ethics, non-disclosure agreement, resources you contribute to the growth of our venture, devotion of your time and sharing profit and loss from partnership operations.

Financial Information

Depending on the model of the partnership proceeds to be deposited into a business account or payment facilitator of choice to be stated. Accurate and updated financial information should be maintained along with Account Books and Reporting depending upon the model of the partnership.

Dissociation from Partnership

Proper documentation required in the event partner(s) retiring from partnership. Will include statements for proper exit including settling all prior bills that may be necessary in such an event. Sections will be defined for Dissolution, Retirement and Death of Partner(s).

Alternate Dispute Resolution

Any gap left out in the Agreement may be governed by laws and procedures dealt with in the Alternate Dispute Resolution (ADR).

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