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Partnership Deed

This document is a partnership deed between Moses Hainza Mukudi and Milka Nabwire Juma. [1] They are entering into a partnership to operate an air and sea freight, import and export, and clearing and forwarding business called Northways Freight Logistics based in Nairobi. [2] The terms of the partnership outline each partner's contributions and share of profits. Moses Hainza Mukudi contributed 60% of the start-up capital and will receive 60% of profits, while Milka Nabwire Juma contributed 40% of capital and will receive 40% of profits. [3] The deed also establishes guidelines for operating and dissolving the partnership.

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63 views4 pages

Partnership Deed

This document is a partnership deed between Moses Hainza Mukudi and Milka Nabwire Juma. [1] They are entering into a partnership to operate an air and sea freight, import and export, and clearing and forwarding business called Northways Freight Logistics based in Nairobi. [2] The terms of the partnership outline each partner's contributions and share of profits. Moses Hainza Mukudi contributed 60% of the start-up capital and will receive 60% of profits, while Milka Nabwire Juma contributed 40% of capital and will receive 40% of profits. [3] The deed also establishes guidelines for operating and dissolving the partnership.

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deltonmukoyakuya
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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PARTNERSHIP DEED

OF

MOSES HAINZA MUKUDI

AND

MILKA NABWIRE JUMA

DRAWN BY:-
MAKHANDIA & MAKHANDIA
ADVOCATES
KENCOM HOUSE
P.O.BOX 27630-00506
NAIROBI
THIS DEED OF PARTNESHIP made the ……………… day of …………….. two thousand
and thirteen BETWEEN MOSES HAINZA MUKUDI of ID No. 7277237 and of Post Office
Box Number 9 Port Victoria and MILKA NABWIRE JUMA ID No. 28559326 of Post Office
Number 195 Funyula (hereinafter called “the Partners”).

WHEREAS the Partners are carrying on the business of Air and sea freight, import and export,
clearing and forwarding the terms hereinafter appearing.

1. The Parners are and remain partners in the business aforesaid at LA Colline Apartments,
Masaba road in the name of Northways Freight Logistics.
2. Any partner may retire from the partnership at any time after the completion and sale and
division of the proceeds of sale to the partners.
3. The business of the partnership shall be carried on at La Colline Apartments situated at
Nairobi West, Nairobi County.
4. The said business partnership is the property of the partners.
5. That the partners shall hold the said property in trust for the partnership and shall be
indemnified by and at the expenses of the partnership against the rent and all covenants
and conditions on the part of the lessee in the leases contained as from the date of these
presents.
6. Any further capital, which may be hereinafter required for the purposes of the
partnership, shall be contributed by the partners in the proportions in which they shall
from the time being entitled to the net profits of the said business.
7. In the case of deficiency by the partners in shares in which they are entitled to the net
profits of the business.
8. The estimated cost or capital for new business is Kenya Shillings One hundred thousand
out of which MOSES HAINZA MUKUDI has contributed Kenya Shillings sixty
thousand (Kshs. 60,000) that includes purchasing the business items and MILKA
NABWIRE JUMA has contributed Kenya Shillings forty thousand (Kshs. 40,000).
Therefore, the partners shall be entitled to the net profits of the said business in the shares
following that is to say:-
(a) MOSES HAINZA MUKUDI 60%
(b) MILKA NABWIRE JUMA 40%
9. Each partner shall at all times devote all his time and attention to the business of the
partnership and employ himself with the utmost diligence and carry on the same for the
greatest advantage of the partnership.
10. The partner who holds 60% shall be the principal while the one with 40% shall be deputy
principal.
11. No partner shall during the continuance of the partnership without the written consent of
the other partner do any of the following things:-
(a) Give any security or undertaking for the payment of money on account of the
partnership.
(b) Release or compound any debt owing to or claim by the partnership or the other
partner.
(c) Enter into any bond or become security for any person or knowingly do or permit to
be done anything whereby the capital or
(d) Commits an act of bankruptcy or is adjudicated bankrupt or suffers his shares in the
partnership to be charged for his separate debt; or
(e) Becomes by reason of bodily or medical infirmity permanently incapable of
performing his or her obligation under this agreement; or
(f) Is guilty of any conduct likely to have a seriously harmful effect on the conduct of the
partnership business or such that the other partner cannot reasonably be expected to
continue in partnership with him or her, may be expelled from the partnership by
written notice given to him or her by the other partner.
12. Any difference which may arise between the partners or their respective representatives
or any of them will regard to the interpretation of these reasons or any part thereof or as
the rights or liabilities of the partners of any of them under these presents or with regard
to the winding up of or any other matter or thing relating to the partnership or the affairs
thereof shall be referred to a single arbitrator in conformity with the provisions of the
Arbitration Act of 1995.
13. That at any time the decision to dissolve partnership will share the profits and loss at
proportions aforesaid.

IN WITNESS WHEREOF the aforesaid partners have set their hands this …………… day of
……………… Two Thousand and twenty two.
SIGNED, SEALED AND DELIVERED ]
]
by the said MOSES HAINZA MUKUDI ]
]
in the presence of ]
]
]
]
]
SIGNED, SEALED AND DELIVERED ]
]
by the said MILKA NABWIRE JUMA ]
]
in the presence of ]
DRAWN BY:-
MAKHANDIA & MAKHANDIA
ADVOCATES
P.O.BOX 27630-00506
NAIROBI

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