Team Contract Example & Partnership Agreement
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Team Contract Team 16
Team Members:
Our Purpose: To successfully complete the tem project with every person doing their fair share of work, communicating and working cohesively.
Code of Conduct
We will:
1. Provide the opportunity for all members to participate.
2. Attend all team meetings.
3. Complete work by the proposed deadlines.
4. Communicate regularly and clearly to discuss tasks, deadlines, etc.
Decision Making
We will make project decisions by:
1. Discussion in team meetings
2. If no decision is made a vote will take place.
Timeline
Research report Due
23/4/12 Responsible Person(s) Listed above
Conflict Resolution
When we encounter conflict or someone does not fulfil his/her responsibilities we will:
1. Issue a verbal warning
2. Issue a written warning
3. Terminate contract with offending parties
Date:
This Partnership Agreement is made on 15th February 2012 between individual parties
1.Name and Business
The parties hereby form a partnership under the name of to produce package holidays on the East Coast of Brazil. The principal office of the business shall be
2.Term
The partnership shall begin on 15th February 2012, and shall continue until terminated.
3.Capital
The capital of the partnership shall be contributed in cash by the partners as follows:
*A separate capital account shall be maintained for each partner.
*Neither partner shall withdraw any part of their capital account.
*Upon the demand of either partner, the capital accounts of the partners shall be maintained at all times in the proportions in which the partners share in the profits and losses of the partnership.
4.Profit and Loss
The net profits of the partnership shall be divided equally between the partners and the net losses shall be borne equally by them. A separate income account shall be maintained for each partner. Partnership profits and losses shall be charged or credited to the separate income account of each partner. If a partner has no credit balance in their income account, losses shall be charged to their capital account.
5.Salaries and Withdrawals
Neither partner shall receive any salary for services rendered to the partnership. Each partner may, from time to time, withdraw the credit balance in their income account.
6.Interest
No interest shall be paid on the initial contributions to the capital of the partnership or on any subsequent contributions of capital.
7.Management Duties and Restrictions
The partners shall have equal rights in the management of the partnership business, and each partner shall devote their entire time to the conduct of the business. Without the consent of the other partner neither partner shall on behalf of the partnership borrow or lend money, or make, deliver, or accept any commercial paper, or execute any mortgage, security agreement, bond, or lease, or purchase or contract to purchase, or sell or contract to sell any property for or of the