Document background
The Letter of Termination of Partnership is a crucial document used when partners decide to formally end their business relationship in Hong Kong. This document is essential when dissolving a partnership, whether the termination is mutual or initiated by one party in accordance with the partnership agreement or the Partnership Ordinance (Cap. 38). It should be used when partners have agreed to cease operations, when a partner wishes to exit, or when circumstances necessitate the partnership's dissolution. The document typically includes detailed information about the termination process, asset distribution, liability settlement, and client transition arrangements. Under Hong Kong law, this formal notice helps ensure a clear and legally compliant dissolution process, protecting all parties' interests and helping prevent future disputes.
