Partnership Dissolution Agreement Letter Samples

Letter -1

I am writing to inform you that I Edward Murphy, holding CNIC [x], residing at [X] address, and Will Neil holding CNIC [x], residing at [X] address are business partners. The details of the business are as follows:

Name of the Business [x]
Registration no: [x]
Date of partnership: 20th Oct 20xx

Both of us now want to dissolve our business for certain personal reasons. Both of us are doing it willingly and on purpose on the following terms and conditions:

1. Business [x] is a business based on partnership and with a business address [x]. 
2. Both of the partners agree to dissolve this partnership and undertake they will not be considered partner legally.
3. This dissolution agreement will be valid from 25 Oct 20xx
4. Both partners have nominated Mr. Burke, CNIC [x] to audit our account and inform us about the liabilities to pay. 
5. Both partners agree to pay all the liabilities. After the payments and clearance, the rest of the amount will be distributed equally between both of us. 
6. We both agree to terminate the business after this dissolution agreement, hence no partner will be able to make a business transaction, or carry forward a business deal after 20th Oct 20xx. 
7. Both partners intend to sell every commodity, furniture and product related to the business. The amount will be distributed among the partners. 
8. This document supersedes all the previous agreements related to our [x] business. 

Kindly read the above-mentioned clauses carefully and do let me know if anything else needs to be added to them. You can reach me at my number [x] or drop me an email at [x]. I am also sending a copy of this letter to my partner and my account agent to keep them in the loop. Looking forward to hearing from you soon. 

Regards,

File: Word (.docx) Size: 12 KB

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Sample -2

It is to bring to your kind attention that I Edmund Burke holding CNIC [x], residing at the address [x] is willing to dissolve my business of [x]. This business is based on partnership mode and both of us agree to carry out the act. The details of my partner and business are as follows: 

Name of the Partner: William Collins

CNIC: [x]
Address of the partner: [x]
Name of the Business [x]
Registration no: [x]

We started this business on 7th Sep 20xx but now wish to dissolve it due to some economic crisis. 

The following terms and conditions have been prepared to be taken into consideration for the dissolution. Kindly go through them thoroughly and let me know if there is something to be changed and revised. The terms are as follows:

1. We Edmund Burke and William Collins undertake that we are dissolving our partnership willingly and without any pressure. 
2. This partnership dissolution agreement will be effective from 24th April 20xx.
3. We do not wish to terminate the business, so we are selling the whole setup to Ms Sarah Collins CNIC [x]. However, both of us will not be a part of it. 
4. We both nominate Mr. Jim Carle to audit our business account and settle all the financial disputes among the partners. 

Please let me know if we need to add something else to these terms. Looking forward to hearing from you soon. Kindly drop me an email at [x]. Please do not call. Also, let me know which documents are needed to be attached with these terms to make it a legal document. Thanking you in anticipation. 

Regards,

File: Word (.docx) Size: 12 KB

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