A Partnership Agreement can be amended at any time, so long as all partners agree to the amendments in a unanimous vote. If the Partnership Agreement has been amended before, it's important to note in the most recent addendum that there have been previous amendments. The order of the amendments helps to ensure that the document is up-to-date. All amendments should be attached to the original Partnership Agreement. The Partnership deed may be amended due to the following reasons:
- Partner Addition
- Partner Resignation
- Change in Profit sharing ratio
- Change or addition of business activities
- Change of principle place of business
- Addition or removal of conditions or clauses to the existing agreement.