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Addendum To Partnership Agreement Template for Singapore

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Key Requirements PROMPT example:

Addendum To Partnership Agreement

"I need an Addendum To Partnership Agreement to add two new partners to our consulting firm and modify the profit-sharing arrangement, with the changes to take effect from March 1, 2025, under Singapore law."

Document background
An Addendum To Partnership Agreement is utilized when existing partners need to modify their original partnership arrangement under Singapore law. This document is essential when implementing changes such as admitting new partners, adjusting profit-sharing ratios, modifying management rights, or updating capital contribution requirements. It ensures compliance with Singapore's Partnership Act and maintains legal continuity while incorporating necessary changes to the partnership structure. The addendum becomes an integral part of the original agreement, with all unmodified terms remaining in full force and effect.
Suggested Sections

1. Parties: Identification of all parties to the addendum including existing and any new partners

2. Background: Reference to original partnership agreement, date of execution, and reason for the addendum

3. Definitions: Key terms used in the addendum and any modifications to original definitions

4. Amendments: Specific modifications to the original agreement, clearly stating which clauses are being modified

5. Effect on Original Agreement: Statement confirming all other terms of the original agreement remain in full force and effect

6. Execution: Signature blocks and execution details for all parties

Optional Sections

1. Additional Partners: Section detailing the admission of new partners, their rights, obligations, and capital contributions

2. Capital Contributions: Section specifying changes to partnership capital structure and partner investments

3. Profit Sharing: Modifications to profit and loss distribution arrangements between partners

4. Management Rights: Changes to management structure, voting rights, or decision-making processes

Suggested Schedules

1. Schedule of Amendments: Detailed list of specific clauses being modified with original and new text

2. Updated Partner Information: Complete details of all partners including contact information and ownership percentages

3. Revised Capital Contributions: Updated schedule showing all partner investments and capital account balances

4. Consent Documents: Copies of any required third-party consents, regulatory approvals, or supporting documentation

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions




















Clauses




















Industries

Partnership Act 1890 (Chapter 391): Primary legislation governing the formation and operation of partnerships in Singapore, including rights and duties of partners and regulations for partnership dissolution and winding up

Business Names Registration Act 2014: Legislation covering requirements for registration of business names and obligations regarding business name changes in Singapore

Limited Partnerships Act 2008: Specific legislation applicable if the partnership structure is a limited partnership

Contracts Act 1872: Fundamental law governing general principles of contract law, formation and validity of contracts, and modification of existing agreements

Companies Act (Chapter 50): Relevant legislation when the partnership includes corporate partners

Income Tax Act: Legislation governing tax implications of partnership modifications and partnership tax treatment

MAS Regulations: Monetary Authority of Singapore regulations applicable if the partnership involves regulated financial services

Competition Act: Legislation to consider if the addendum affects market competition

Personal Data Protection Act 2012: Legislation governing data protection requirements if the addendum involves changes to data handling practices

Professional Bodies' Regulations: Specific regulations from professional bodies that apply if the partnership involves regulated professions such as law or accounting

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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