What is a new partner admission agreement?
Two existing partners bring a new partner into their partnership: the new partner's capital, profit share, role and agreement to be bound by the partnership terms. Start from this template in FileIt eSignature: fill in the blanks, add the people who sign, and send it. Everyone signs online and the signed PDF is filed in your vault.
What you fill in
15 blanks, then the name and email of each person who signs: first existing partner, second existing partner, new partner.
1 The partnership
- Date of this agreement*
- Partnership (business) name*
- Existing partnership agreement
2 The partners
- First existing partner*
- Second existing partner*
- New partner*
- New partner address
3 Terms of admission
- Admission date*
- Currency*
- New partner's capital contribution*
- Capital is paid* in full on the admission date · in equal monthly instalments over 12 months from the admission date · out of the new partner's future profit share, as the partners agree in writing
- Profit and loss shares from admission*
- New partner's role
- Responsibility for debts before admission* The new partner is not responsible, as between the partners, for debts incurred before the admission date. · The new partner shares in debts incurred before the admission date in proportion to its profit share.
- Governing law*
4 Who signs
- First existing partner signature and date, initials on every page
- Second existing partner signature and date, initials on every page
- New partner signature and date, initials on every page
What the new partner admission agreement covers
- Admission
- Partnership terms
- Capital
- Profits and losses
- Role
- Role
- Existing debts
- Notices and records
- General
Sign it online in minutes
- Fill in the blanks. Names, dates and amounts go straight into the agreement — the preview shows exactly where.
- Name who signs. Tick “This is me” for your own part. FileIt builds the PDF with every signature, date and initials box on the right line, and you can check or move anything before sending.
- Send it. Each signer gets a secure link and signs from any device — no account needed. The signed PDF, with an audit trail and a Certificate of Completion, is filed in your vault and emailed to everyone.