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Business Partner Termination Letter
1. Header Information: Company letterhead, date, reference number, and full contact details of both parties
2. Formal Address: Proper business greeting and recipient's details
3. Reference to Agreement: Clear identification of the business partnership agreement being terminated, including original agreement date and any relevant amendments
4. Termination Statement: Clear and unambiguous statement of termination, citing relevant contractual clauses and/or legal basis
5. Effective Date: Specific termination date and notice period details, ensuring compliance with contractual requirements
6. Reason for Termination: Brief, professional explanation of termination reasons if appropriate and required
7. Outstanding Obligations: Summary of any remaining obligations, payments, or deliverables that need to be addressed
8. Next Steps: Clear outline of immediate actions required from both parties
9. Closing Statement: Professional closing including contact information for further communication
10. Signature Block: Authorized signatory details and formal signature
1. Transition Plan: Include when there are ongoing projects or services that need a structured handover process
2. Asset Return: Include when there are physical or digital assets that need to be returned
3. Confidentiality Reminder: Include when there are specific confidentiality obligations that continue post-termination
4. Intellectual Property Rights: Include when there are IP rights that need to be addressed
5. Non-Compete Provisions: Include when there are existing non-compete clauses that remain in effect
6. Dispute Resolution: Include when there are potential areas of disagreement or specific dispute resolution mechanisms
7. Future Cooperation: Include when maintaining a positive relationship is important and future collaboration might be possible
1. Schedule of Outstanding Payments: Detailed list of any pending financial obligations or settlements
2. Inventory of Assets: List of any physical or digital assets to be returned or transferred
3. Project Transition Plan: Detailed timeline and responsibilities for transitioning ongoing projects
4. Contact List: Key contacts for handling transition and post-termination matters
5. Compliance Checklist: List of regulatory and contractual requirements to be met during termination process
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