Party 1 Full Name (Four Parts): National ID: Nationality: Address: Phone: Email: | Party 2 Full Name (Four Parts): National ID: Nationality: Address: Phone: Email: |
Article (1) Preamble and Definitions
1- This preamble and the attached appendices constitute an integral part of this agreement and complement its provisions, and they are to be read together as a unified whole.
2- "This agreement" refers to this contract and its appendices and any written amendments thereto; "the partners" refers to the parties specified in the attached contracting template; "the partner" refers to any one of them; "the limited partnership" refers to the subject of cooperation outlined in this agreement; and "the applicable law" refers to the governing laws and regulations.
3- The headings of the articles are provided for ease of reference only and shall not be relied upon for interpretation; in case of ambiguity, the common intent of the partners and the nature of the dealings and the requirements of good faith shall be considered.
4- The provisions of this agreement shall be interpreted in a comprehensive manner that achieves its purpose and does not conflict with the applicable law.
Article (2) Eligibility of the Partners and Their Qualifications
1- Each partner acknowledges their full legal capacity and eligibility to enter into this agreement and to perform the obligations arising therefrom, and that the person signing on their behalf is duly authorized with a valid authorization.
2- Each partner confirms that their entry into and execution of this agreement does not violate any law, license, or contractual obligation to which they are bound, and that the information and documents submitted by them are accurate and complete.
3- Each partner is obliged to obtain the necessary licenses and approvals to fulfill their obligations and to maintain their validity throughout the term of this agreement.
Article (3) Subject of the Partnership and Types of Partners
1- The partners agree to establish a limited partnership to carry out the following activity: .
2- The partnership consists of general partners who manage it and are liable for its obligations without limits, and limited partners who are only liable to the extent of their contributions and do not participate in management.
Article (4) Duration and Effectiveness of this Agreement
1- This Agreement shall commence on and shall last for .
2- This Agreement may be renewed or terminated in accordance with its provisions, and mere continuation of execution shall not result in automatic renewal unless expressly stated in writing.
Article (5) Partners' Contributions
1- Each partner shall make their contribution as stated in the annex, and the limited partner is obliged to fulfill the agreed-upon contribution.
2- The partners shall execute the provisions of this article in good faith and in a manner that achieves its purpose, without prejudice to the remaining provisions of this agreement.
Article (6) Management and Rights of the Limited Partner
1- The management shall be entrusted to the general partners, and the limited partner shall not intervene in the management with respect to third parties; otherwise, the general partner shall be held liable for the consequences of such intervention.
2- The limited partner has the right to supervise and access the partnership's accounts and documents.
Article (7) Distribution of Profits and Losses
1- Profits and losses shall be distributed according to the ratios specified in: , and within the limits of the responsibility of each category.
2- Details thereof shall be specified — as appropriate — in an annex that forms an integral part of this agreement.
Article (8) Waiver and Exit
1- The waiver of the general partner is subject to the approval of the partners, and the limited partner may assign their contribution according to the agreed terms.
2- The partners shall cooperate to overcome any obstacles that may hinder the implementation of this article in a manner that serves the limited partnership.
Article (9) Duration of the Partnership and Its Termination
1- The partnership shall continue for the agreed duration and shall be liquidated upon its conclusion in accordance with the law, taking into account the priority of settling obligations.
2- The partners are obliged to implement the provisions of this article in good faith and in a manner that achieves its purpose without prejudice to the remaining provisions of this agreement.
Article (10) General Obligations of the Partners and Good Faith
1- The partners are committed to executing this agreement in good faith, exercising due diligence and mutual cooperation to achieve the limited partnership in the best possible manner.
2- Each partner commits to providing the resources, information, and support they have undertaken in a timely manner and in accordance with the agreed specifications, and to notify the other partners immediately upon becoming aware of any impediment affecting the execution.
3- Each partner shall refrain from any act or omission that may harm the limited partnership or the legitimate interests of the other partners or their reputation.
4- Each partner shall bear their own expenses for fulfilling their obligations unless otherwise agreed in writing.
Article (11) Records, Reports, and Follow-up
1- The partners shall maintain accurate and organized records regarding the implementation of this agreement and the progress of the limited partnership, and each of them shall provide the others with periodic reports as agreed upon in the specified timelines.
2- Each partner is obligated to notify the remaining partners of any significant development that affects the limited partnership or their ability to fulfill their obligations as soon as they become aware of it.