Partnership Agreement Sample Sri Lanka: All You Need to Know

A partnership agreement is a legal document that outlines the terms and conditions of a partnership between two or more parties. It is important to have a partnership agreement in place as it lays out the expectations and responsibilities of each partner, and ensures that there are no misunderstandings or disputes.

If you are in Sri Lanka and considering entering into a partnership, it is crucial to have a partnership agreement in place. In this article, we will go over the essential elements to include in a partnership agreement sample Sri Lanka.

Partnership Name and Purpose

The partnership agreement should start with the name of the partnership and its purpose. The name should be unique and not already taken by another company. The purpose of the partnership should be clearly stated, outlining what the partners aim to accomplish together.

Partnership Duration

The partnership agreement should state the duration of the partnership, including the start and end date. If the partnership is ongoing, this should be clearly stated in the agreement.

Partnership Contributions

Each partner`s contribution to the partnership should be outlined in the agreement. This can include financial contributions, equipment or property contributions, or skill-based contributions.

Profit and Loss Distribution

The agreement should specify how the profits or losses of the partnership will be divided among the partners. This can be based on the contribution of each partner, or other agreed-upon terms.

Roles and Responsibilities

The partnership agreement should clearly state the roles and responsibilities of each partner within the partnership. This can include tasks such as managing finances, marketing, or other duties required to run the partnership.

Decision Making

The partnership agreement should outline how decision making will be handled within the partnership. This can include how conflicts will be resolved and the process for making major decisions.

Partner Withdrawal or Termination

The partnership agreement should also include provisions for partner withdrawal or termination. This can include a process for voluntary withdrawal, as well as how the partnership can be dissolved if necessary.


In conclusion, a partnership agreement is essential for any partnership in Sri Lanka. It helps to ensure that all parties are on the same page and can work towards their shared goals without any misunderstandings or disputes. By including the elements outlined above in your partnership agreement, you can help protect your partnership and set it up for success.