Document background
The Partnership Agreement Termination Letter is a crucial document used when partners decide to end their business relationship in Singapore. It must comply with the Partnership Act (Chapter 391) and other relevant Singapore legislation. This document is typically used when partners mutually agree to dissolve their partnership or when one partner exercises their right to terminate under the original agreement. It should detail the termination date, reason for dissolution, asset distribution plan, ongoing obligations, and any transition arrangements. The letter serves as official documentation of the partnership's end and helps prevent future disputes by clearly stating the terms of separation.
