Partnership Deed (Sharakat Nama) Format in Urdu

When is a partnership deed needed?

When two or more people start a business together, a partnership deed sets down what each puts in, how profit and loss are shared, who may sign for the firm and what happens if a partner leaves or dies. Banks ask for it to open the firm’s account, and the tax office asks for it when the firm is registered for tax.

Where it goes

The partners sign it on stamp paper before two witnesses, and each keeps a copy. The firm can then be registered with the Registrar of Firms of the province. Registration is not compulsory, but under the Partnership Act an unregistered firm cannot go to court to enforce its claims against outsiders or between partners.

Points to get right

• State each partner’s capital and share of profit and loss in figures. Equal shares are assumed only when nothing is written.
• Say who operates the bank account, and whether one signature is enough or two are needed.
• Decide now how a partner can leave and how that share will be valued and paid out.
• Say whether a partner may run another business of the same kind.
• Write what happens to the firm on the death of a partner.

How to use this sample

1. Press Open in editor. The sample opens as a new document that you can change freely.
2. Replace each blank with your own details.
3. To print on an e-stamp paper, open the File tab, press Write on PDF / picture and choose the PDF or scan of your stamp paper. Move the starting line until the text begins below the printed part.
4. Press Print / PDF. To print the blank format as it is, use Print this sample above.

What to fill in

• The name, father’s name, CNIC number and address of both parties
• The amounts, dates and periods the parties have agreed
• The date and the signatures of both parties
• The names and CNIC numbers of two witnesses

Before you sign

These are general formats to save typing. Requirements differ between offices, courts and provinces, and a paper about property or money has legal effect. Have the final wording checked by a deed writer or lawyer, use stamp paper of the correct value, and get the paper attested or registered where that is required.