Document background
The Partnership Cancellation Letter is a crucial document used when partners decide to formally dissolve their business relationship in Singapore. It must be drafted in accordance with Singapore's Partnership Act and should be used when all partners agree to terminate the partnership or when circumstances defined in the partnership agreement trigger a dissolution. This document typically includes the effective termination date, reasons for dissolution, division of assets and liabilities, and steps for winding up the partnership's affairs. It serves as both a legal record and a practical guide for the dissolution process, ensuring compliance with Singapore's regulatory requirements.
