Fill in Dairy Farm Partnership Agreement

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Dairy Farm Partnership Agreement

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The partners
The dairy and what each puts in
Running it and sharing the profit
Signing

Step 1 of 4

The partners

What is the first partner's full name?Needed

For example: Harjinder Singh

What is the first partner's address?Needed

House / flat / plot no.

Street, sector or locality

City area and PIN code

What is the first partner's mobile number?Needed

A number somebody can be reached on. Ten digits is the usual Indian form, and a country code in front of it is fine if you want it there.

For example: 98140-00000

What is the second partner's full name?Needed

For example: Baldev Singh

What is the second partner's address?Needed

House / flat / plot no.

Street, sector or locality

City area and PIN code

What is the second partner's mobile number?Needed

A number somebody can be reached on. Ten digits is the usual Indian form, and a country code in front of it is fine if you want it there.

For example: 98140-00000

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DAIRY FARM PARTNERSHIP AGREEMENT

BETWEEN

__________, of __________, mobile __________ (the "First Partner");

AND

__________, of __________, mobile __________ (the "Second Partner").

1. THE FIRM

1.2 The partnership has no fixed end date. It is a partnership at will, that either partner may end on the notice in clause 9.

2. WHAT EACH PARTNER PUTS IN

2.3 Cattle and equipment put in as above become the property of the Firm, and the partners shall make a signed list of the animals, with their tag or ear numbers, and keep it with this agreement. Calves born, and animals bought out of the Firm's money, belong to the Firm.

3. PROFIT AND LOSS

4. RUNNING THE DAIRY

4.3 The Firm shall have a bank account in its own name, operated by both partners, or by either of them for sums up to a limit they agree in writing.

4.4 Neither partner shall, without the other's written consent, sell or pledge the Firm's cattle or equipment except in the ordinary course of the dairy, borrow in the Firm's name, or sign a contract for the Firm that binds it for more than one year.

4.5 The Firm shall keep its cattle healthy, have them vaccinated and treated by a qualified veterinarian, and keep a record of births, deaths, sales and purchases of animals.

5. ACCOUNTS

5.1 The Firm shall keep true books of account at the dairy. Each partner may inspect them and take copies at any reasonable time. The accounts shall be closed and signed by both partners once a year, on 31 March unless they agree another date, and the profit shared after that.

6. TAXES AND LICENCES

6.1 The Firm shall obtain and keep any registration, licence or permission that the law requires for a dairy, for selling milk and for disposing of animal waste, and shall file the returns and pay the taxes that apply to it.

7. NO TRANSFER OF A PARTNER'S SHARE

7.1 A partner shall not transfer or pledge his share in the Firm, or bring in a new partner, without the other's written consent.

8. DEATH OR INCAPACITY

8.1 If a partner dies, the partnership ends unless his legal heirs and the surviving partner agree in writing to continue it. The accounts shall be taken as at the date of death and the heirs paid the share due to the deceased partner.

9. LEAVING THE PARTNERSHIP

9.2 The cattle and equipment shall be valued by a person both partners trust, or sold, and the partners may agree that one of them keeps them at that value and pays the other his share.

10. DISPUTES

10.1 The parties shall first try to settle any dispute by talking, if they wish with the help of respected elders or the village panchayat.

11. GENERAL

11.1 This is the whole agreement between the partners on the Firm. Any change must be in writing and signed by both. The Indian Partnership Act, 1932 applies to matters this agreement does not cover.

Signatures

First Partner: __________

Signature: ______________________________

Second Partner: __________

Signature: ______________________________

Witness 1 (name, address, signature): ______________________________

Witness 2 (name, address, signature): ______________________________

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