Definition: [pɑːtnəʃɪp əˈgriːmənt] is the most common and only true form of a written transaction, executed in accordance with the rules of law. Always, when an entrepreneur wants to expand his business or enter into a contract with his colleague, there is a need to sign a contract. To ensure the fair conduct of the transaction, clarify the rights and obligations of the contracting parties, appoint the terms of performance of obligations and at the same time for the sake of confidence in their performance a contractual agreement is signed. It establishes not only the principles of the behavior of partners but also allows for the provision in advance of measures for resolving disagreements.
Partnership Agreement in Sentences:
- The more complex the form of the partnership agreement is, the more specific conditions it contains. They need to be taken into account and correctly described so that in the future there is no conflict.
- For this reason, business partners often resort to the services of experts for the competent compilation of a partnership agreement.
Synonyms and related words: business agreement, business contract, partnership relations
