Participation termination is a tough task, but there are many reasons for which this can happen, shifting to a different location, misunderstanding, budget issues, etc.
As and when you plan to terminate a partnership, you must start with the formal paperwork and get the auditing done for the two first and clear the accounts once and for all. Make sure you clear misunderstandings and part on neutral terms.
How to End a Business Partnership Letter?
- Framing a mail where you are needed to end the business partnership, make sure to keep it short.
- You can start it directly with the reason like why you need to end it.
- Moving on, write about how pleasant it was to maintain this professional relationship for so long.
- Write about the experiences that you gathered, being in this partnership.
- Highlight the matter of financial audit and settlement of money. You can also suggest a date.
- Request to complete the above-mentioned procedure as soon as possible.
- In the conclusion of the letter, you can add that you want to stay in touch with the recipient.
Template: 1
Partnership Termination Letter Samples
Regarded Sir,
I need to state that I need to drop the business partnership with you as I am moving abroad, and I need to move my business there as well. So I need to drop this partnership as I mean to make my own organization there.
Before we finally terminate the partnership, we must have an audit of our financial statements and clear the balance amount.
Also with this, I must tell you that having a partner as understanding as you were a blessing for me and it was really nice to learn the tactics of business from a market player. Looking forward to staying in touch with you.
Respects,
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Template: 2
Partnership Termination Letter
Dear “Full Name,”
It is a delight to have an extremely long business partnership of “Company Name” with you. We both delighted in this concurred partnership as a benefit, development, altruism, and fellowship.
Presently we are in acceptable positions and have funding to oversee separate organizations, as examined in our last gathering. Our partnership goes long significantly more than our understanding. It was a direct result of your integrity and competency.
With respect, as our own relationship is concerned we are having a few issues on account of our workers, which have been settled in the last gathering.
Before we get into any further false impressions as liable to be stirred we should get it disintegrated and we continue making the most of our kinship.
I will demand you to please audit our first partnership understanding before our next gathering is booked on Tuesday. We will likewise sign a stamp paper after the fruitful termination of our partnership understanding.
All the best for your prosperity.
Much appreciated in Anticipation,
Full Name
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Template: 3
Partnership Termination Letter
Dear “Partner Name”
I am composing this letter to examine with you the obstructing termination of the partnership business we began under the names partner name 1 and partner name 2.
The monetary administration’s backup of our business is expected for termination, considering the ongoing disturbance encompassing the business.
As referenced in the underlying partnership understanding, if there should arise an occurrence of termination because of wild business gives, the termination will prompt an equivalent division of all benefits just as liabilities between the accomplices.
This letter starts the proper termination technique which will be finished in the coming 14 days. If it’s not too much trouble, contact the legal advisor to guarantee that all the lawful commitments are being met with clearness and unambiguously.
Much obliged
Full Name
Fellow Chairman
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Template: 4
Partnership Termination Letter
Regarded Sir,
It is on my part in the interest of our organization to illuminate you that our agreement (name of agreement) (starting date) has been ended. This thing occurred because of the extortion from your organization. The items were not up to the mark.
The choice was taken by and large by all the individuals from our top managerial staff.
The items are sent back to your organization. The installments couldn’t be sent because of the continuous inquiry. I trust this glitch will be completely uncovered. As the inquiry finishes, the installments will be cleared. Expressing gratitude toward you.
Yours reliably,
Name and Signature
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Template: 5
Partnership Termination Letter
Regarded Mr. V,
This is a proper message to illuminate you that the agreement between our organization will be ended on a” date.” As indicated by the terms and conditions of the agreement, if any gathering can’t convey the outcomes, the other party has the option to end the agreement.
As referenced in the agreement, your organization should convey the items prior to ” Date”. Be that as it may, considerably following seven days, we didn’t get our item. We are especially frustrated.
This deferral caused us an immense monetary misfortune, and we are very nearly losing our customers.
This is the explanation we need to end our MOU. For installment or some other subtleties or inquiries, get in touch with us at 99089790 or email us at [email protected].
The following is the duplicate of termination; it would be ideal if you sign it and send it to the address referenced previously.
Yours genuinely,
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Template: 6
Partnership Termination Letter
Full Name.
Dear RECIPIENT NAME,
I am composing this letter to illuminate you that we will need to talk about the approaching termination of our business partnership under the name YOUR COMPANY NAME.
While we both appreciated this partnership regarding development and benefit, I feel that the time has come to oversee separate organizations, as we recently examined.
We can continue to end our partnership as recently characterized by our first understanding.
Joined is a duplicate to go over with respect to the terms and conditions in regards to the termination and liquidation of organization resources and capital, among others.
I have just mentioned our attorneys and counselors to draw up the fundamental papers to push ahead with the termination of our business partnership.
If it’s not too much trouble, survey the said understanding before our booked gathering on DATE 1 and examine the provisions of the disintegration of our partnership further before we sign the authoritative records that will fill in as confirmation of settling our choice.
I want you to enjoy all that life has to offer later on, and I trust achievement will discover its approach to you.
Respects,
YOUR NAME
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Template: 7
Partnership Termination Letter
Hello, “Partner name.”
The business has suffered some significant misfortunes as of late; however, the total assets are in addition to sums subsequent to clearing all the liabilities. I have mentioned our budgetary, legal counselor, and guide to attracting suitable papers to push ahead with the termination.
This very big step of termination has to be taken in light of the recent mismatches in the ledger, which have made doubtful the validity of statements. We would like to get an inquiry done on this and end the partnership.
Regards
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Template: 8
Business Partnership Termination Letter
Dear Mr./ Mrs./ Ms. [ Insert the name of whomsoever it is concerned to]
SUB: [ Insert the subject concerned to the letter]
Greetings of the day!
I solely see through this business, that we, as a company, we’re able to see the future and build our business. As business partners, both our companies have been seeing the ups and downs of the market. We both enjoyed this agreed partnership in terms of profit, growth, goodwill, and friendship.
I am writing this letter to you with deep regret, to convey that we would like to cancel the business partnership with you, as we are shifting our base at [ insert the name of a relevant location]. The Journey has been tremendous, and we have enjoyed the support that [ Insert the name of the receiver’s company] has provided from the start.
We understand that there is a new market overseas that is still in grab. We would stir away from the business model that we have built here and move to new ways in the future. We are very excited about the new avenues that are opening in front of us.
As per the terms and conditions of the partnership, our association with each other will be ended officially on [ Insert the end date of the business agreement].
Even after separating the businesses, I hope we will be good competitors and beat the market as we did in the last two years.
Thank you very much!
Cordial Regards,
[ Insert Full Name of the Sender]
[ Insert the designation at the organization], [ Insert the name of the organization]
[ insert the necessary contact details]
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Template: 9
Business Partnership Termination Letter
(Mention the name of the sender)
(Mention the designation of the sender)
(Name of the company)
(Mention the detailed address)
(Mention the contact information)
(Date)
To,
(Mention the name of the Recipient)
(Mention the designation of the recipient)
(Name of the company)
(Mention the address of the Recipient)
(Contact Information of the Recipient)
Sub: Letter of Termination of Business Partnership
Dear (Name of the Recipient),
I am writing this letter on behalf of my company (Mention the name of the company) to let you know that, we have decided to terminate our business partnership regarding (mention the details) effective from the day of (mention the details).
We have faced some serious issues ever since we started our business partnership with your firm (mention the name and details) from (mention the details). Some of those are poor quality of products, late arrival of the items, and many more. For that, we have already encountered various types of complaints from our clients.
Due to these problems, we are forced to terminate our contract for (mention the details) year before time. I have enclosed all the related documents and papers regarding this matter for your reference and also to complete the process as soon as possible. I expect proper co-operation from your end.
I hope that you will take this matter seriously but not personally as we have to do our business for our benefit.
Wishing you all the best wishes and success in your future endeavors.
Thank you very much.
With regards,
(Mention the name of the sender)
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Template: 10
Business Partnership Termination Letter
(Mention the name of the sender)
(Mention the designation of the sender)
(Name of the company)
(Mention the detailed address)
(Mention the contact information)
(Date)
To,
(Mention the name of the Recipient)
(Mention the designation of the recipient)
(Name of the company)
(Mention the address of the Recipient)
(Contact Information of the Recipient)
Sub: Letter of Termination of Business Partnership
Dear (Name of the Recipient),
There have been a high rise in the price of the raw materials, which we purchase from your firm (mention the name and details) during the past (mention the details) years. Hence, our company is unable to do the business properly as we have not increased the price of our products.
Therefore, this rise in the price of the raw materials has started to dig into our profits. Therefore, we have decided to terminate our business partnership with your company and starting to look for another supplier.
We are already trying to talk with various other firms to do business and they have expressed their interest to fulfill our needs at a lower price very soon.
For this reason, we are terminating our recent contract with you effective from (mention the details).
We hope you will try to understand our problem and not take it personally. We will always appreciate the good relationship we have maintained with each other for all those years.
Wishing you all the very best.
Thank you very much.
With regards,
(Mention the name of the sender)
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