Ontario Partnership Agreement

Set up a general partnership in Ontario with this downloadable Partnership Agreement template.

The Partnership Agreement contains provisions for:

• Admission of new partners.
• Allocation of profits and losses, and income and losses for income tax purposes, among the partners in proportion to their respective interests.
• If partnership earnings are not sufficient to pay its debts and liabilities, the partners will make up the difference in proportion to their respective interests.
• If any partner is required to pay more than its share due to default on the part of another partner, the first partner will have a lien and charge against the income account of the defaulting partner.
• Management of the business of the partnership by a managing committee.
• Withdrawal of a partner.

The Ontario General Partnership Agreement template can be easily customized to fit your particular circumstances.