Document background
The Partnership Offer Letter is a crucial document used when existing partners wish to expand their partnership by inviting new members. Under Singapore law, this document serves as the preliminary step in establishing a formal partnership relationship. It contains essential information about the proposed partnership terms, including capital contributions, profit-sharing ratios, responsibilities, and any special conditions. The letter must comply with Singapore's Partnership Act and related regulations, making it a legally significant document that forms the basis for subsequent partnership documentation. It's particularly important for professional services firms and businesses where partnership structures are common.
