A Managing Partnership Agreement (MPA) is a legally binding contract that outlines the roles and responsibilities of two entities in a business partnership. It further defines the scope of the relationship, as well as giving guidance on decision-making processes and dispute resolution mechanisms. The agreement should be clear and concise, setting out the expectations of both parties in areas such as financial management, resource sharing, communication and risk assessment. A sound MPA can help ensure a strong working relationship between partners and build trust while creating an effective framework for successful collaboration.