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Partnership Termination Agreement
"I need a Partnership Termination Agreement for dissolving a two-partner architectural firm in Switzerland, with an effective termination date of March 1, 2025, including provisions for equal distribution of assets and ongoing project completion."
1. Parties: Identification of all partners and their details
2. Background: Details of the partnership, its formation date, purpose, and reason for termination
3. Definitions: Definitions of key terms used throughout the agreement
4. Effective Date of Termination: Specification of when the partnership will officially terminate
5. Final Accounts: Agreement on final partnership accounts and financial statements
6. Asset Distribution: Details of how partnership assets will be distributed among partners
7. Settlement of Liabilities: Procedure for handling outstanding partnership debts and obligations
8. Partner Obligations: Ongoing obligations of partners post-termination
9. Mutual Release: Partners' mutual release from claims related to the partnership
10. Confidentiality: Obligations regarding confidential information post-termination
11. Notices: Process for sending formal notices between parties
12. Governing Law: Confirmation of Swiss law as governing law and jurisdiction
13. Execution: Signature blocks and execution requirements
1. Intellectual Property Rights: Distribution and future use of partnership IP (include if partnership owns IP)
2. Employee Matters: Handling of employment relationships (include if partnership has employees)
3. Non-Compete Provisions: Post-termination competition restrictions (include if partners agree to restrictions)
4. Ongoing Projects: Handling of unfinished projects (include if partnership has ongoing business)
5. Tax Matters: Specific tax arrangements and obligations (include if complex tax implications exist)
6. Dispute Resolution: Specific dispute resolution procedures (include if standard court jurisdiction is not desired)
7. Insurance: Handling of insurance policies and claims (include if partnership has significant insurance matters)
8. Third Party Contracts: Assignment or termination of contracts with third parties (include if significant contracts exist)
1. Schedule 1 - Asset Inventory: Detailed list of all partnership assets and their agreed distribution
2. Schedule 2 - Final Accounts: Final balance sheet and profit/loss statement
3. Schedule 3 - Outstanding Liabilities: List of all outstanding debts and payment obligations
4. Schedule 4 - Client List: Distribution of clients and related obligations
5. Schedule 5 - Completion Actions: Checklist of actions required to complete the termination
6. Appendix A - Power of Attorney: If required for specific termination actions
7. Appendix B - Third Party Consents: Copies of any required third-party consents
8. Appendix C - Tax Clearance: Tax clearance certificates or relevant tax documentation
Authors
Professional Services
Legal Services
Financial Services
Real Estate
Construction
Technology
Healthcare
Consulting
Manufacturing
Retail
Hospitality
Agriculture
Media and Entertainment
Legal
Finance
Compliance
Tax
Risk Management
Operations
Corporate Secretariat
Business Development
Strategy
Human Resources
Administration
Managing Partner
Senior Partner
Legal Counsel
Chief Executive Officer
Chief Financial Officer
Business Development Director
Partnership Manager
Compliance Officer
Tax Manager
Risk Manager
Company Secretary
Operations Director
Financial Controller
Business Owner
Managing Director
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