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Format of llp agreement in wordFormat Of • June 5th, 2023
The Basic LLP Agreement is a simple and short legal document which covers the key issues arising in a straightforward LLP arrangement. This template might be used by a small business (or professional services firm) requiring a simple LLP structure.This Basic LLP Agreement is derived from the long form LLP agreement and covers all the main points but in a simpler form. It provides for equal capital contributions, equal sharing of profits and losses, that all the partners will work full time in the business and manage the business jointly, that no member can be expelled without the unanimous written consent of all the members and that two designated members shall be appointed.For a fuller and more sophisticated LLP agreement, the Simply-Docs Long Form Partnership Agreement may be more appropriate.The Basic Partnership Agreement contains the following clauses:-Nature of businessName of businessAdmission of new partnersStart DateDissolutionPremisesCapitalDrawingsAccounts dateAuditorsBankPa
