under the agreement


Senior Member
Czech / Czech Republic
I have another problem with another proposition. Is it correctly used in the following passage? If you spot other problems in it, please let me know.

On 01/01/2006, Mr X.Y. concluded a silent partnership agreement with Mr Y.Z., for indefinite period of time. Under this agreement, Mr X.Y. was supposed to be paid a monthly yield in the amount of USD 1,000.

Thank you.

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