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Partnership Agreement Between 3 Parties for United Arab Emirates

Partnership Agreement Between 3 Parties Template for United Arab Emirates

A comprehensive legal document governed by UAE law that establishes and regulates a partnership between three distinct parties, outlining their respective rights, obligations, capital contributions, profit-sharing arrangements, and management responsibilities. This agreement complies with UAE Federal Law No. 2 of 2015 (Commercial Companies Law) and related regulations, incorporating necessary provisions for local ownership requirements where applicable, and addressing specific Emirates' commercial regulations. The document provides a framework for joint business operations, decision-making processes, dispute resolution mechanisms, and exit strategies, while ensuring compliance with UAE legal requirements and commercial practices.

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What is a Partnership Agreement Between 3 Parties?

The Partnership Agreement Between 3 Parties is a crucial legal document used in the United Arab Emirates when three entities or individuals wish to establish a formal business partnership. This document is essential for compliance with UAE Federal Law No. 2 of 2015 and its amendments, particularly in situations involving multiple stakeholders with different ownership interests, operational roles, or capital contributions. The agreement comprehensively covers all aspects of the partnership, from formation to potential dissolution, including capital structure, profit sharing, management rights, and dispute resolution mechanisms. It's particularly relevant for businesses operating in mainland UAE or free zones, and must account for local ownership requirements where applicable. The document serves as the foundational framework for the partnership's operations, governance, and relationships between the partners, while ensuring compliance with UAE commercial regulations and, where relevant, Sharia principles.

What sections should be included in a Partnership Agreement Between 3 Parties?

1. Parties: Details of the three partners entering into the agreement, including full legal names, addresses, and registration details if corporate entities

2. Background: Context of the partnership formation, business objectives, and any relevant historical information

3. Definitions: Comprehensive list of defined terms used throughout the agreement

4. Partnership Structure and Formation: Legal structure of the partnership, effective date, and term of the partnership

5. Capital Contributions: Detailed breakdown of initial and any subsequent capital contributions from each partner

6. Ownership and Profit Sharing: Percentage ownership stakes and profit/loss distribution mechanism

7. Management and Control: Decision-making processes, voting rights, and management responsibilities of each partner

8. Business Operations: Day-to-day operational procedures, business scope, and territorial limitations

9. Partner Rights and Obligations: Detailed rights and duties of each partner, including participation in management

10. Financial Management: Banking arrangements, accounting procedures, and financial reporting requirements

11. Transfer of Partnership Interests: Rules regarding the sale, transfer, or encumbrance of partnership interests

12. Termination and Exit: Conditions for partnership termination and partner exit procedures

13. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and applicable law

14. General Provisions: Standard clauses including notices, amendments, and severability

What sections are optional to include in a Partnership Agreement Between 3 Parties?

1. Intellectual Property Rights: Required when the partnership owns or develops IP assets, detailing ownership and usage rights

2. Non-Competition and Confidentiality: Important when partners have access to sensitive business information or might compete with the partnership

3. Islamic Finance Compliance: Required when the partnership needs to ensure Sharia compliance in its operations

4. Free Zone Regulations Compliance: Necessary when the partnership operates within a UAE free zone

5. Employee Management: Required when the partnership will have employees, detailing hiring policies and responsibilities

6. Additional Capital Contributions: Important when future capital calls are anticipated

7. Partner Deadlock Resolution: Useful for equal partnerships to address potential voting deadlocks

8. Environmental Compliance: Necessary for partnerships operating in environmentally sensitive industries

What schedules should be included in a Partnership Agreement Between 3 Parties?

1. Schedule 1 - Capital Contributions: Detailed breakdown of each partner's initial capital contributions, including valuations of non-cash contributions

2. Schedule 2 - Business Plan: Initial business plan and strategic objectives of the partnership

3. Schedule 3 - Partner Contact Details: Complete contact information and notice details for all partners

4. Schedule 4 - Management Structure: Organizational chart and detailed management responsibilities

5. Schedule 5 - Financial Procedures: Detailed accounting procedures, reporting templates, and financial controls

6. Schedule 6 - Key Performance Indicators: Metrics for measuring partnership and individual partner performance

7. Appendix A - Partner Representatives: List of authorized representatives for each partner

8. Appendix B - Required Licenses and Permits: List of necessary operational licenses and permits for the business

9. Appendix C - Asset Register: Inventory of partnership assets and their ownership status

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Publisher

Genie AI

Cost

Free to use
Relevant legal definitions









































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Relevant Industries

Real Estate Development

Trading and Distribution

Professional Services

Manufacturing

Technology and Software

Healthcare

Education

Hospitality and Tourism

Construction and Engineering

Retail

Financial Services

Consulting

Logistics and Transportation

Media and Entertainment

Relevant Teams

Legal

Finance

Compliance

Corporate Governance

Business Development

Operations

Risk Management

Strategy

Investment

Executive Leadership

Relevant Roles

Chief Executive Officer

Managing Director

Legal Counsel

Chief Financial Officer

Business Development Director

Commercial Director

Company Secretary

Compliance Officer

Partner

Board Member

Operations Director

Investment Manager

Corporate Lawyer

Risk Manager

Strategy Director

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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