Thanks for your reply.
Box 9- the wording to be put in this Box should set out the amount of the Charge and the terms under which it becomes payable.
I note that you are not in effect borrowing any money, and therefore you have to be careful what to put, as the Charge will of course become legally binding, and may become an issue in the unlikely and unfortunate event of there being a business fall out in the future.
The wording doesn't have to be in any set formula and can be worded as loosely as you like, and can be as short or long as you like.
I therefore suggest the following shortly wording clause,(with Mr X being your business partner)-
"Such sum as may be owed by me to Mr X, up to a maximum of £100,000.00, in respect of our jointly owned business known as ABC Business".
Keeping it this short should give your Partner peace of mind and is as basic as you need it to be.
As regards XXXXX XXXXX this is where you need to sign. Although not imperative, your Partner can also sign in this box (to confirm that he has agreed to the terms of the Charge). Each signature needs to be witnessed by a non family member who should sign their normal signature, print full name, and address.
Here is the clause -
SIGNED as a DEED
by JOE BLOGGS
in the presence of:- Joe Bloggs signs here
Witness puts their-
full name here
Once you have completed the Forms and sent the fee off to the LR, the Charge will then get registered on your Title.
I hope this answers your question, and if so, I would be grateful if you could leave positive feedback.