Read the document to make sure it meets your needs and that you’ve provided all of the necessary information about the partnership. Remember that, if you have any questions, you can Ask a lawyer for advice.
LLP agreement checklist
Make it Legal™ Checklist
Here are a few important steps to take to finish your document
This LLP Agreement is a special type of document called a ‘deed’. Deeds must be executed (ie signed) in a certain way in order to be legally binding. To sign your LLP Agreement, you should:
Print a copy of the LLP Agreement for each partner.
All partners should sign each copy of the Agreement. Each signature must be witnessed. A witness should be:
not another party to the deed (ie not one of the other partners)
independent and unconnected with the parties (eg not a family member)
over 18 years of age, and
of sound mind
After watching a partner sign the deed, the partner’s witness should sign the deed and add their name, address, and occupation directly underneath the relevant partner’s signature.
It is usually possible for deeds to be signed electronically, but if this is done, extra care must be taken to ensure that all of the execution formalities for the particular type of deed are met. This deed is, therefore, designed to be signed by hand (ie wet-signed) to ensure that it is correctly executed (eg witnessed).
For more information, read Execution of deeds.
The date of the Agreement is the date on which the parties sign, if that is the same day. If they sign on different days, the date of the Agreement is the day on which the last person signs.
Each party should keep their own original signed Agreement.
A copy of your LLP Agreement will also be stored automatically in your Rocket Lawyer account ‘Dashboard’.