The Restaurant Partnership Agreement is essential when two or more parties wish to establish and operate a restaurant business together in Singapore. This document outlines the fundamental aspects of the partnership, including capital investments, profit distribution, management responsibilities, and operational procedures. It ensures compliance with Singapore's stringent food safety regulations, licensing requirements, and business laws while protecting all parties' interests. The agreement is particularly important given Singapore's competitive F&B market and strict regulatory environment, providing clear guidelines for partnership governance and dispute resolution.
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1. Parties: Identification of all partnership parties with full legal names and addresses
2. Background: Context of the partnership and brief description of the restaurant business
3. Definitions: Key terms used throughout the agreement
4. Partnership Structure: Legal structure, ownership percentages, and capital contributions
5. Management and Control: Decision-making processes and management responsibilities
6. Financial Arrangements: Profit sharing, losses, accounting practices, and banking arrangements
7. Operational Requirements: Day-to-day operations, quality standards, and brand guidelines
8. Regulatory Compliance: Obligations regarding licenses, permits, and food safety regulations
9. Term and Termination: Duration of partnership and circumstances for termination
10. Dispute Resolution: Process for resolving conflicts between partners
1. Non-Compete Provisions: Restrictions on competing businesses - used when partners want to prevent competition within specified area/timeframe
2. Intellectual Property Rights: Ownership and usage of trademarks, recipes, and brand assets - used when unique IP exists or will be developed
3. Exit Strategy: Procedures for partner buyout or business sale - used when partners want clear exit mechanisms
4. Insurance Requirements: Specific insurance coverage obligations - used when particular risks need to be covered
5. Employment Matters: Staff hiring and management policies - used when employees will be jointly managed
1. Capital Contributions Schedule: Detailed breakdown of each partner's initial and ongoing contributions
2. Profit Sharing Formula: Detailed calculation method for profit distribution
3. Operating Procedures Manual: Detailed operational guidelines and standards
4. Property Details: Restaurant premises information and lease details
5. License and Permit Schedule: List of required regulatory approvals and their status
6. Menu and Pricing Guidelines: Agreed menu items and pricing strategy
7. Equipment Inventory: List of partnership-owned equipment and maintenance responsibilities
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