PARTNERSHIP DEED
(Under the Partnership Act, 1932)
EDITING NOTE: All yellow-highlighted text contains dummy information and must be replaced, verified and unhighlighted before signing, stamping, notarization or filing. Obtain professional legal review before execution. |
This Partnership Deed is executed on 15 September 2026 at Islamabad, Islamic Republic of Pakistan, by and between the following parties:
FIRST PARTY: Mr. Ahmed Raza, holder of Computerized National Identity Card (CNIC) No. 35202-1234567-1, resident of House 15, Sample Avenue, Islamabad, Pakistan (hereinafter referred to as the "First Partner").
SECOND PARTY: Mr. Bilal Hassan, holder of Computerized National Identity Card (CNIC) No. 61101-7654321-9, resident of Flat 8, Example Residency, Islamabad, Pakistan (hereinafter referred to as the "Second Partner").
The First Partner and the Second Partner are collectively referred to as the "Partners" and individually as a "Partner".
PARTNERSHIP PARTICULARS AT A GLANCE
Business Name | NEXUS TECHNICAL SERVICES |
Type of Business | Partnership Firm |
Principal Place of Business | Office 12, Example Plaza, Blue Area, Islamabad |
Nature of Business | MEP works, civil contracting and general order supply |
First Partner | Mr. Ahmed Raza - CNIC 35202-1234567-1 |
Second Partner | Mr. Bilal Hassan - CNIC 61101-7654321-9 |
Initial Capital | PKR 1,000,000 (First Partner 50%; Second Partner 50%) |
Profit and Loss Sharing | First Partner 51%; Second Partner 49% |
Date of Commencement | 15 September 2026 |
Financial Year End | 30 June of each year |
NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Partners agree as follows:
FORMATION AND NAME OF PARTNERSHIP
The Partners agree to form and carry on a partnership business under the name and style of NEXUS TECHNICAL SERVICES (the "Firm") in accordance with the Partnership Act, 1932 and the terms of this Deed. The Firm shall not automatically dissolve upon the death, incapacity, insolvency or retirement of a Partner if the remaining Partner elects in writing to continue the business in accordance with applicable law and this Deed.
COMMENCEMENT AND DURATION
The partnership shall commence on 15 September 2026 and shall continue until dissolved by mutual written consent of the Partners or by operation of law. The partnership is a partnership at will unless the Partners later agree to a fixed term through a supplementary deed signed by all Partners.
PRINCIPAL PLACE OF BUSINESS
The principal place of business of the Firm shall be Office 12, Example Plaza, Blue Area, Islamabad, Pakistan. The Partners may, by mutual written consent, open branch offices or change the principal place of business to another location within Pakistan.
NATURE OF BUSINESS
The Firm shall engage in MEP works, civil contracting, general order supply and any related lawful activities unanimously approved in writing by the Partners. The Firm shall not conduct any activity prohibited by the laws of the Islamic Republic of Pakistan.
CAPITAL CONTRIBUTION
The initial capital of the Firm shall be PKR 1,000,000 (Pakistani Rupees One Million only), contributed as follows: the First Partner shall contribute PKR 500,000, representing 50%, and the Second Partner shall contribute PKR 500,000, representing 50%. Additional capital shall be contributed in the same ratio unless the Partners unanimously agree otherwise in writing. Separate capital accounts shall be maintained for each Partner. No Partner may withdraw capital without the prior written consent of the other Partner.
PROFIT AND LOSS SHARING
The net profits and net losses of the Firm, determined after deducting legitimate business expenses, remuneration, depreciation, taxes and agreed allowances, shall be allocated as follows: First Partner - 51% (Fifty-one Percent); Second Partner - 49% (Forty-nine Percent).
DRAWINGS AND REMUNERATION
Each Partner may draw up to PKR 75,000 per month for personal use, provided that the drawings do not adversely affect the Firm's working capital or financial health. The Partners may revise the limit by mutual written agreement. A Partner actively engaged in management may receive remuneration of PKR 100,000 per month, or another amount unanimously approved in writing, which shall be treated as a business expense before determining net profit.
MANAGEMENT AND DUTIES
Both Partners shall jointly manage the Firm and devote adequate time, skill and attention to its affairs. Major decisions concerning policy, strategy, borrowing, capital expenditure, material contracts or changes to the nature of business require the unanimous written consent of both Partners. Either Partner may make ordinary day-to-day operational decisions within the authority granted by this Deed or a written resolution of the Partners.
BANKING AND ACCOUNTS
The Firm shall maintain one or more bank accounts in the name of NEXUS TECHNICAL SERVICES. Each account shall be operated jointly by both Partners unless the Partners authorize another signing arrangement in writing. All business receipts shall be deposited into the Firm's account, and payments shall ordinarily be made through that account. Petty cash may be maintained up to PKR 100,000 or another limit unanimously approved in writing.
BOOKS OF ACCOUNTS AND AUDIT
Proper books of account shall be maintained at the principal place of business using the double-entry system and shall be open to inspection by either Partner at reasonable times. The financial year shall end on 30 June each year. Accounts shall be prepared after each financial year, and the Partners may appoint a qualified Chartered Accountant or firm of accountants to audit them.
RESTRICTIONS ON PARTNERS
Without the prior written consent of the other Partner, no Partner shall:
- assign, charge, transfer or encumber the Partner's share in the Firm or any Firm asset;
- enter into a contract or commitment on behalf of the Firm exceeding PKR 500,000;
- engage in a business that directly competes with the Firm;
- take a loan or advance in the name of or on behalf of the Firm;
- compromise, release or discharge a material debt due to the Firm; or
- acquire or dispose of immovable property in the name of the Firm.
RETIREMENT OF A PARTNER
A Partner may retire from the Firm by giving at least 30 days prior written notice to the other Partner. Subject to settlement of liabilities, the retiring Partner shall receive the balance of the Partner's capital account and the Partner's share of accumulated profit or loss, determined through accounts prepared up to the effective retirement date.
DISSOLUTION OF PARTNERSHIP
The partnership may be dissolved:
- by mutual written agreement of both Partners;
- upon the death, permanent incapacity or insolvency of a Partner, unless the remaining Partner elects in writing to continue the business as permitted by law; or
- by an order of a court of competent jurisdiction or by operation of law.
Upon dissolution, the assets of the Firm shall first be applied toward its liabilities and dissolution expenses. Any remaining surplus shall then be distributed between the Partners according to their capital accounts and profit-sharing ratios, subject to applicable law and final accounts.
DISPUTE RESOLUTION
A dispute arising between the Partners concerning this Deed, the Firm or the rights and liabilities of the Partners shall first be addressed through good-faith negotiation. If the dispute is not resolved within 30 days, it shall be referred to a sole arbitrator mutually appointed by the Partners under the Arbitration Act, 1940 or any applicable re-enactment. The seat and venue of arbitration shall be Islamabad, Pakistan, and the award shall be final and binding, subject to applicable law.
GOVERNING LAW AND JURISDICTION
This Deed shall be governed by the laws of the Islamic Republic of Pakistan, including the Partnership Act, 1932 and applicable amendments. Subject to the arbitration clause, the courts at Islamabad shall have jurisdiction over matters arising from this Deed.
AMENDMENTS
An amendment, modification or supplement to this Deed shall be valid only if recorded in a written instrument signed by both Partners. No oral modification shall bind either Partner.
ENTIRE AGREEMENT
This Deed constitutes the entire agreement between the Partners concerning its subject matter and supersedes all prior negotiations, understandings, representations and agreements, whether oral or written.
IN WITNESS WHEREOF
The Partners have signed this Deed on the date and at the place first written above, in the presence of the witnesses named below. All highlighted information must be verified and the highlighting removed before execution.
FIRST PARTY (PARTNER) Mr. Ahmed Raza CNIC: 35202-1234567-1 Signature: __________________________ | SECOND PARTY (PARTNER) Mr. Bilal Hassan CNIC: 61101-7654321-9 Signature: __________________________ |
WITNESSES
WITNESS NO. 1 Name: Ms. Sana Ali CNIC: 37405-1111111-2 Address: House 10, Sample Street, Islamabad Signature: __________________________ | WITNESS NO. 2 Name: Mr. Usman Tariq CNIC: 35202-2222222-3 Address: Office 4, Example Plaza, Islamabad Signature: __________________________ |
NOTARIZATION / OATH COMMISSIONER ATTESTATION
Attested before me by the above-named Partners and Witnesses, who are personally known to me or identified through their CNICs, on this 15th day of September, 2026.
Name: Mr. Example Notary
Designation: Notary Public / Oath Commissioner
Registration No.: NP-0000
Signature, stamp and seal: __________________________________________
UNDERTAKING
FIRST PARTNER - DRAFT TEMPLATE
To,
The Registrar of Firms, Islamabad
Subject: Undertaking for Registration of M/s NEXUS TECHNICAL SERVICES
I, Mr. Ahmed Raza, holder of CNIC No. 35202-1234567-1, hereby solemnly affirm and undertake that all documents, information, statements and particulars submitted for the registration of M/s NEXUS TECHNICAL SERVICES are true, correct, complete and genuine to the best of my knowledge and belief.
I further declare that no material fact has been concealed or misrepresented. If any information or document is found to be false, incorrect, forged or misleading, I shall be responsible and liable under the applicable laws, rules and regulations.
Name: Mr. Ahmed Raza
CNIC No.: 35202-1234567-1
Firm Name: NEXUS TECHNICAL SERVICES
Date: 15 September 2026
Firm stamp: _________________________________________
Signature: __________________________________________
ATTESTATION
Attested by Notary Public / Oath Commissioner on 15 September 2026
Signature, stamp and seal: __________________________________________
UNDERTAKING
SECOND PARTNER - DRAFT TEMPLATE
To,
The Registrar of Firms, Islamabad
Subject: Undertaking for Registration of M/s NEXUS TECHNICAL SERVICES
I, Mr. Bilal Hassan, holder of CNIC No. 61101-7654321-9, hereby solemnly affirm and undertake that all documents, information, statements and particulars submitted for the registration of M/s NEXUS TECHNICAL SERVICES are true, correct, complete and genuine to the best of my knowledge and belief.
I further declare that no material fact has been concealed or misrepresented. If any information or document is found to be false, incorrect, forged or misleading, I shall be responsible and liable under the applicable laws, rules and regulations.
Name: Mr. Bilal Hassan
CNIC No.: 61101-7654321-9
Firm Name: NEXUS TECHNICAL SERVICES
Date: 15 September 2026
Firm stamp: _________________________________________
Signature: __________________________________________
ATTESTATION
Attested by Notary Public / Oath Commissioner on 15 September 2026
Signature, stamp and seal: __________________________________________