Limited Liability Partnership Agreement
Whilst there is no statutory requirement for a Limited Liability Partnership to have a written agreement, it is recommended that every practice/firm should be subject to a Limited Liability Partnership Agreement. This agreement can be used to set out the terms of a Limited Liability Partnership.
A Limited Liability Partnership (LLP) is an alternative corporate business vehicle that gives the benefits of limited liability but allows its members the flexibility of Since April 2001 it has been possible to incorporate LLPs. Limited Liability Partnerships are incorporated by completing Form LL IN01 and sending this to Companies House together with the appropriate fee. Unlike limited This agreement contains the following clauses:- 1. Definitions and interpretation Schedules:- 1. Member's names and residential addresses Optional This agreement has been updated to reflect the Supreme Court ruling of May 2014 relating to the status of LLP members as “workers” for the purposes of the Employment Rights Act 1996. This means that individual members will enjoy the statutory rights and protections conferred on “workers” under This agreement is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes. Once you have purchased access to the appropriate document folder click on the “Download Document” button below. You will be asked what you want to do with the file. It is recommended that you save the document to a location of your choice prior to viewing. Limited Liability Partnership Agreement is part of Corporate Documents. Just £35.00 + VAT provides unlimited downloads from Corporate Documents for 1 year.
2. Incorporation
3. Commencement and duration
4. Name and registered office
5. Property and place of business
6. Accounts
7. Banking arrangements
8. Members' shares and contributions
9. Profits and losses
10. Drawings
11. Members' obligations, duties & entitlements
12. Holiday leave
13. Maternity & paternity rights
14. Parental and family leave
15. Management
16. Limitations on members' powers as agents
17. Indemnity and expenses
18. [Cars]
19. Insurance
20. Retirement
21. Expulsion
22. Provisions relating to death retirement or expulsion
23. Payments following death retirement or expulsion
24. Other provisions following death retirement or expulsion
25. Winding up
26. Guarantees and Indemnities
27. Notices
28. Arbitration And Limited Liability Partnership
2. Property
3. Prior shares of profit
4. Primary Percentage division of profits and losses
5. Secondary profit share principles (if any)