The Partnership Agreement For Hotel Business is a crucial document used when two or more parties wish to establish a joint hotel venture in the Philippines. This agreement is particularly relevant in the growing Philippine tourism and hospitality sector, where partnerships are common for hotel development and operations. It must comply with various Philippine regulations, including the Civil Code's partnership provisions, Tourism Act requirements, and local government regulations. The document typically covers essential aspects such as capital investment, profit sharing, management responsibilities, operational standards, and exit mechanisms. It's commonly used for new hotel developments, existing hotel acquisitions, or restructuring of hotel ownership, providing a comprehensive framework for partner relationships and business operations. The agreement must be carefully structured to address both the partnership aspects and specific requirements of hotel operations under Philippine law.
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1. Parties: Identification of all partners, their legal status, and contact details
2. Background: Context of the partnership formation and brief description of the hotel business venture
3. Definitions: Definitions of key terms used throughout the agreement
4. Partnership Formation and Term: Declaration of partnership formation, commencement date, and duration
5. Business Purpose: Specific description of the hotel business and permitted activities
6. Capital Contributions: Details of initial and ongoing capital contributions from each partner
7. Ownership and Profit Sharing: Partnership interests, profit/loss allocation, and distribution policy
8. Management and Control: Management structure, voting rights, and decision-making processes
9. Operations and Business Standards: Hotel operational standards, brand requirements, and quality control
10. Financial Management: Banking, accounting practices, financial reporting, and audit requirements
11. Partner Rights and Obligations: Detailed responsibilities and rights of each partner
12. Staff and Employment: Employment policies, staff management, and labor compliance
13. Insurance and Liability: Required insurance coverage and liability allocation
14. Transfer of Partnership Interests: Rules for selling or transferring partnership interests
15. Termination and Exit: Conditions for termination and exit procedures
16. Dispute Resolution: Process for resolving partnership disputes
17. Governing Law: Specification of Philippine law as governing law and jurisdiction
18. General Provisions: Miscellaneous legal provisions including notices, amendments, and severability
1. Intellectual Property: Include when the partnership involves branded hotels or specific trademarks
2. Environmental Compliance: Include for properties with specific environmental concerns or certifications
3. Development and Construction: Include when the partnership involves new hotel construction or renovation
4. Third-Party Management: Include when a professional hotel management company will be engaged
5. Marketing and Promotion: Include detailed marketing provisions for independent hotels
6. Food and Beverage Operations: Include when F&B is a significant component of the business
7. Force Majeure: Include detailed force majeure provisions for high-risk locations
8. Competition Restrictions: Include non-compete clauses when partners have other hotel interests
1. Schedule A - Property Details: Legal description and details of the hotel property
2. Schedule B - Capital Contributions: Detailed breakdown of each partner's capital contributions
3. Schedule C - Management Structure: Organizational chart and management responsibilities
4. Schedule D - Business Plan: Initial business plan and budget
5. Schedule E - Operating Standards: Detailed hotel operating procedures and standards
6. Schedule F - Financial Procedures: Accounting procedures and financial reporting formats
7. Schedule G - Insurance Requirements: Detailed insurance coverage requirements
8. Appendix 1 - Partner Information: Detailed information about each partner including KYC documents
9. Appendix 2 - Required Licenses: List of required permits and licenses for hotel operation
10. Appendix 3 - Asset Inventory: Inventory of hotel furniture, fixtures, and equipment
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