Wednesday, April 12, 2017

Articles of Partnership (General Partnership)



Republic of the Philippines        )
City of (Place)                         ) S.S.


ARTICLES OF PARTNERSHIP
 
OF

(NAME OF PARTNERSHIP)




KNOW  ALL MEN BY THESE PRESENTS:

            That   we,  the undersigned  partners, all  of  legal age,  residents  and  citizens  of   the
Philippines, have on this day voluntarily associated ourselves together for the purpose of forming a general partnership under the following terms and conditions and subject to existing and applicable laws of the Republic of the Philippines:

AND WE HEREBY CERTIFY:

            ARTICLE I.  Partnership Name:  That       the    name    of    this    partnership    shall   be (NAME OF PARTNERSHIP)

and shall transact business under the said company name.

           
ARTICLE II. Business Purpose:  That the purpose/s for which this partnership is formed is/are:

1.      (Purpose)
2.      (Purpose)
3.      (Etc.)


ARTICLE III. Principal Place of Business:  That the principal place of business of this partnership shall be located at : (Complete Address of Principal Office of the Partnership)


ARTICLE IV. Term of Existence:  That this partnership shall have a term of (Number of Years) years from and after the original recording of its Articles of Partnership by the Securities and Exchange Commission.


           ARTICLE V. Partners’ Circumstances: That the names, nationalities and complete residence addresses of the partners are as follows:

            Name                                Nationality                      Complete Address                





            ARTICLE VI.  Capital Contributions:  That the capital of this Partnership shall be the amount of (Amount in Words) (PhP Amount in Figures), Philippine Currency, contributed in cash by the partners, as follows:

                          Name                                                            Amount Contributed
     


                                                                            
           That no transfer of interest which will reduce the ownership of Filipino citizens to less than the required percentage of capital as provided by existing laws shall be allowed or permitted to be recorded in the proper books of the partnership.


              ARTICLE VII. Sharing Ratios:  That the profits and losses of this partnership shall be divided and distributed proportionately on the ratio of the capital contribution of each partner.


              ARTICLE IX.  Management:   That this partnership shall be under (Name of Managing Partner) as General Manager, who shall be in charge of the management of the affairs of the company.  He shall have the power to use the partnership name and in otherwise performing such acts as are necessary and expedient in the management of the firm and to carry out its lawful purposes.


              ARTICLE X. Undertaking to Change Name:  That the partners undertake to change the name of this partnership, as herein provided or as amended thereafter, immediately upon receipt of notice or directive from the Securities and Exchange Commission that another corporation, partnership or person has acquired a prior right to the use of that name or that the name has been declared as misleading, deceptive, confusingly similar to a registered name, or contrary to public morals, good customs or public policy.


IN WITNESS, WHEREOF, the parties have set their hands on this (Date) at (Place), Philippines.

           
         (NAME OF PARTNER)                                           (NAME OF PARTNER)
                         TIN                                                                                TIN


         (NAME OF PARTNER)                                           (NAME OF PARTNER)
                         TIN                                                                                TIN


ACKNOWLEDGMENT

            Before me a Notary Public for and in the City of (Place), this (Date), personally appeared the following:


Name                                      TIN/ID/Passport No.                         Date & Place Issued




known  to me to and to me known to be the same persons who executed the foregoing Articles of Partnership, who acknowledged to me that the same is their true and voluntary act and deed.

            WITNESS MY HAND AND SEAL on the date and place first above written.


Doc. No. _____;
Page No. _____;
Book No. _____;
Series of _____.


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