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Farming Partnership Agreement
"I need a Farming Partnership Agreement for a family dairy farm transition where I'm bringing my two adult children into the partnership from March 2025, with specific provisions for gradual transfer of ownership and management responsibilities over a 5-year period."
1. Parties: Identification and details of all partners entering the farming partnership
2. Background: Context of the partnership formation, including history of the farm and partners' intentions
3. Definitions: Key terms used throughout the agreement, including farming-specific terminology
4. Partnership Structure: Legal structure, ownership percentages, and capital contributions of each partner
5. Farm Property: Details of the farm property, including land, buildings, and their ownership or lease arrangements
6. Partnership Assets: Listing of partnership assets including livestock, machinery, and equipment
7. Management and Decision Making: Governance structure, voting rights, and decision-making processes
8. Financial Arrangements: Capital accounts, profit/loss sharing, drawings, and banking arrangements
9. Operations: Day-to-day management, farming activities, and operational responsibilities
10. Partner Obligations: Duties, responsibilities, and commitments of each partner
11. Record Keeping: Requirements for maintaining financial records, farming records, and compliance documentation
12. Dispute Resolution: Process for resolving disputes between partners
13. Exit Provisions: Procedures for partner retirement, withdrawal, or death
14. Term and Termination: Duration of partnership and circumstances for termination
1. Intellectual Property: Protection of partnership IP such as breeding programs or farming methods, used when the partnership has developed unique processes
2. Environmental Management: Specific environmental commitments and practices, important for farms with sensitive ecological considerations
3. Organic Certification: Requirements and commitments for maintaining organic status, included for organic farming operations
4. Share Farming Arrangements: Terms for share farming or sharemilking arrangements, used when third-party farmers are involved
5. Family Succession: Provisions for transferring partnership interests to family members, important for family farming businesses
6. Research and Development: Provisions for agricultural research activities, included when the partnership engages in farming innovation
7. Marketing and Branding: Terms regarding the partnership's marketing activities, relevant for farms with direct market presence
1. Schedule 1: Property Details: Detailed description of land, including titles, easements, and water rights
2. Schedule 2: Asset Register: Comprehensive list of partnership assets including valuations
3. Schedule 3: Capital Contributions: Details of initial and subsequent capital contributions by partners
4. Schedule 4: Farm Management Plan: Annual operational plan including stocking rates, cropping plans, and rotations
5. Schedule 5: Insurance Requirements: Required insurance policies and coverage levels
6. Appendix A: Farm Maps: Detailed maps of the property showing boundaries, infrastructure, and land use
7. Appendix B: Compliance Certificates: Copies of relevant compliance certificates and permits
8. Appendix C: Partner Contact Details: Contact information for all partners and key stakeholders
Authors
Accountant
Annual Budget
Assets
Authorised Representative
Business
Business Day
Business Plan
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Deed
Default Event
Departing Partner
Dissolution Event
Distributions
Drawing Account
Effective Date
Encumbrance
Environmental Requirements
Farm
Farm Land
Farm Management Plan
Farming Operations
Financial Year
Fixed Assets
GST
Improvements
Income
Initial Capital
Intellectual Property
Interest Rate
Land
Livestock
Management Committee
Managing Partner
Material Decision
Notice
Operating Account
Operating Expenses
Partners
Partnership
Partnership Assets
Partnership Interest
Partnership Property
Profit and Loss
Related Party
Remaining Partners
Resource Consents
Share Farming Agreement
Special Resolution
Stock
Term
Transfer
Valuation Date
Withdrawal Notice
Working Capital
Partnership Formation
Term
Capital Contributions
Partnership Property
Ownership of Assets
Farm Management
Decision Making
Financial Management
Profit and Loss Distribution
Banking Arrangements
Partner Duties and Obligations
Operational Management
Environmental Compliance
Health and Safety
Insurance
Livestock Management
Land Use
Resource Consents
Employment Matters
Confidentiality
Intellectual Property
Non-Competition
Record Keeping
Accounts and Audit
GST and Taxation
Partner Meetings
Voting Rights
Admission of New Partners
Transfer of Partnership Interest
Partner Retirement
Death of Partner
Default Events
Buy-Out Provisions
Valuation
Dispute Resolution
Force Majeure
Termination
Partnership Dissolution
Notices
Governing Law
Amendments
Entire Agreement
Agriculture
Dairy Farming
Sheep and Beef Farming
Horticulture
Viticulture
Aquaculture
Forestry
Mixed Farming
Organic Farming
Agribusiness
Legal
Agricultural Operations
Finance
Risk Management
Environmental Compliance
Property Management
Business Advisory
Investment
Operations
Partnership Management
Succession Planning
Documentation
Compliance
Farm Owner
Farm Manager
Agricultural Consultant
Rural Lawyer
Agribusiness Advisor
Agricultural Accountant
Farm Succession Planner
Rural Banking Manager
Environmental Compliance Officer
Agricultural Investment Manager
Operations Manager
Partnership Manager
Agricultural Property Manager
Farm Business Advisor
Agricultural Risk Manager
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