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MKN International 
Partnership Agreement
MKN LOGO.JPG

 


2.0   Investors and Agreement date


​This Partnership Agreement (the “Agreement”) is made and entered into this July 23, 2021 (the “Effective Date”).  The original investment being made over the months of April and May. The partners in this agreement are as follows:

MKN INTERNATION HOLDING:                        60%

YASSIN LOWE:                                                     40% 

 

 

2.1 Terms & conditions

The parties agree to the following:


To engage in the sales and distribution of products under several brands. These products will be in the area of transportation, agriculture, and textile. MKN International will provide the initial start-up capital for the venture. This initial start-up capital will be paid back as an investment meant at _____ % return. The initial investment will be paid back in the about of one have of net income not to exceed $1000. 


2.2 The Partnership:
The parties wish to become legal partners in business.
​The terms and conditions of their Partnership will be outlined in this Agreement.


​If the Agreement is executed, the Partnership will be in effect on July 23, 2021.
​The Partnership will only be terminated as outlined in this Agreement.
The Partnership’s primary place of business will be Brusubi, The Gambia.
The Partnership will be governed under the laws of the country of Gambia.


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2.3 Contribution

We have set an amount of twenty thousand dollars as start-up cost.

Start-Up Cost $10,000

Fabric/Clothing                                          4000

Taxi                                                              3000

Chicken Coop                                             1100

Chickens                    $300    

Prince Chicken's       $2000

Sewing Machine       $1800

Additional expenditures

Total---------------------- 12,400


The Partners will make an initial contribution to the Partnership as follows:
 

MKN INTERNATION HOLDING:            12,400 

YASSIN LOWE:                                        Sweat Equity


Contributions will be submitted no later than July 15th, 2021.  All capital contributions are final unless all partners give written consent of withdrawal.  All contributions will be deposited into a joint business account. 


2.4 Interest and Authority
The Partners’ ownership interest in the Partnership will be as follows:

 

                     

MKN INTERNATION HOLDING:                        60%

YASSIN LOWE:                                                     40% 

 

The Partners’ authority will be defined by the following unless otherwise stated in the Agreement: Any decisions requiring a contract or otherwise will require a unanimous vote by all Partners.

2.4.1 Costs:
The Partners will share costs according to the following percentages:

MKN INTERNATION HOLDING:                      60%

YASSIN LOWE :                                                  40% Sweat Equity


2.4.2 Profits:
The Partners will share the net profits of the Partnership according to the following percentages:

MKN INTERNATION HOLDING:                        60%

YASSIN LOWE:                                                     40% 



​The Profits will be distributed every week once the operation begins. All owners will have access to financial records.

2.4.3 Partner Roles:
Management Roles:
Mass Yassin Lowe will be responsible for all day-to-day operations i.e. marketing and booking compound.

2.4.4 Accounting:
 

We hire the services of an account to make sure that the company has the proper financial guidance.

All accounts related to the Partnership including contribution and distribution accounts will be audited quarterly.
​All Partners will maintain a joint contribution account.  All Partners will maintain a joint distribution account.  Partners will keep accurate and complete books of account for all accounts related to the Partnership.  Any Partner, whether majority or minority, will be allowed to review all books of account at any time they request.
​Accounting records will be kept on a cash basis.
The fiscal year will be complete on December first of each year.  All Partners will present their position on the state of the Partnership within two weeks of the completion of each fiscal year.

2.5 Dissolution
Should the Partnership be dissolved by one party wanting to dissolve the agreement, the Partnership will be liquidated, and the debts will be paid.  All the remaining funds after debts have been paid will be distributed based on the percentage of ownership interest outlined in this Agreement.

We the undersigned have read and understood the terms & conditions of this agreement and hereby append our signature below.

 

 

MKN INTERNATIONAL (MASS KWESI OJI NJIE OWNER)

 

 

_____________________________________ Date __________

 

YASSIN LOWE 

 

 

_____________________________________ Date __________

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