Total capital: BDT 3.00,000 (Bangladeshi Taka; Three Lac Only) If the partners decide to add more capital to the partner company, both partners can contribute to the capital. The capital made available by each partner is always maintained in relation to the partners who share the benefits and losses of the partnership. No partner should withdraw part of its capital without the mutual agreement of the partners. 6. Profits and losses from the net income of the partnership are divided equally among the partners and net losses should be shared equally. All entity debts must be borne, mitigated and managed by both parties. 7. Wages and Withdrawals No partner receives a salary for partnership benefits. Each partner can withdraw the agreed amount from time to time. Interest is not paid on the initial contribution to the company or on subsequent contributions to the capital. 9.
Partnership Responsibility Restrictions Partners should have the same rights in the management of a partner business and each partner should have sufficient time to operate. The adequacy of the time allocated by the partners must be agreed between the partners. Without the agreement of the other partner, no partner is able to borrow or lend money in the name of partnership; Or deliver or accept promotional paper; or any mortgage, investment agreement, loan or lease; Or a purchase or a sales contract. or to sell or enter into a contract to sell a property or partnership other than the type of property acquired and sold during the normal transaction. 10. All partnership funds are deposited into a bank account in the company`s name. All withdrawals from this account must be made on cheques signed by both partners. 11.
Books on partnership books should be kept in the partnership centre and should always be accessible to each partner. Accounts must be held on a year-to-date basis and closed and balanced at the end of each fiscal year. From the deadline, accounts and all accounts are verified. 12. The transfer of shares in the event of the death or physical disability of a member, on the part or right of deceased or disabled partners is transferred to their legal representatives or legal heirs, in accordance with the general laws of Bangladesh. 13. A non-competitive agreement and confidentiality of the partner should not carry out any activity similar to that of that undertaking. Where it is established that a partner is engaged in a similar activity, it is considered to be a violation of this agreement. All partners should also refrain from disclosing internal company information outside the partnership. The management of the company is done by mutual agreement between the two partners in all circumstances.
In the event of a dispute, the partners will resolve them peacefully, either mutually or in the presence of a third-party mutual mediator. 15. The signing partners decide each other whether to sign all legal documents, such as customs documents, letters of credit and similar documents, taking into account the company`s favours. Only banking transactions must have the signatures of both partners. 16. Approval of new partners by a new partner may be accepted into the company, but only after the written agreement of all existing partners. Each new partner is expected to bring capital to the company in agreement with all partners. 17. Dispute resolution is expected to be resolved peacefully in all disputes between partners, either on both sides or in the presence of a third-party mutual mediator. 18. Arbitration, if there is a dispute between partners that cannot be resolved on the basis of reciprocity or by a third mediator, the matter will be referred to arbitration proceedings.