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The Ending Partnership Agreement is a critical legal document used when business partners decide to formally terminate their business relationship in Saudi Arabia. It serves as the definitive record of the dissolution terms, ensuring compliance with Saudi Companies Law, commercial regulations, and Sharia principles. This document becomes necessary when partners mutually agree to end their business relationship, when a partner wishes to exit, or when circumstances require the partnership's dissolution. The agreement covers essential elements including asset division, liability allocation, client relationship management, and regulatory compliance requirements. It must be properly executed and registered with relevant Saudi authorities, including the Ministry of Commerce and Investment. The document provides protection for all parties by clearly defining their rights, obligations, and post-dissolution responsibilities, while ensuring the dissolution process meets all legal and religious requirements specific to Saudi Arabia.

1. Parties: Identification of all partners and their current contact details

2. Background: Brief history of the partnership, reference to original partnership agreement, and reason for dissolution

3. Definitions: Key terms used throughout the agreement

4. Effective Date of Dissolution: Specific date when the partnership will legally end

5. Declaration of Dissolution: Formal statement of partners' agreement to dissolve the partnership

6. Settlement of Accounts: Process for final accounting and financial settlements between partners

7. Asset Distribution: Detailed terms for division and transfer of partnership assets

8. Liability Settlement: Allocation of existing liabilities and debts

9. Client and Contract Management: Handling of existing clients, contracts, and business relationships

10. Confidentiality: Ongoing obligations regarding partnership information

11. Non-Competition and Non-Solicitation: Post-dissolution restrictions on business activities

12. Release and Discharge: Mutual release of claims between partners

13. Regulatory Compliance: Steps for compliance with Saudi authorities including commercial registration cancellation

14. Governing Law: Confirmation of Saudi law application and Sharia compliance

15. Dispute Resolution: Process for handling any future disputes

16. Execution: Signature blocks and attestation requirements