Deed of adherence to general partnership agreement
Written with our partners at:
What's a deed of adherence to general partnership agreement and when do you need it?
Use this template when you want to join a new partner to an existing general partnership. It accompanies our template general partnership agreement, which you would use when first constituting a partnership.
The deed of adherence is an efficient way to ensure that subsequent new partners are bound by the same rules and arrangements as the original partners, without the need for the original partnership agreement itself to be revised each time someone joins, or leaves. The new partner will be provided with a copy of the original partnership agreement and agrees with the existing partners that they shall all observe, perform and be bound by the existing provisions of the partnership agreement as though the new partner were one of the original partners.
The deed clarifies the amount of capital contribution that the new partner will pay into the partnership, the new partner’s liabilities on joining the partnership (including to activities taking place before the joining date) and how shares in profits and losses will be handled.
If you operate a limited liability partnership, there is a separate template deed of adherence appropriate for joining new members to this type of business.