Notice of Dissolution_Partnership

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

NOTICE OF DISSOLUTION OF PARTNERSHIP

**TO ALL WHOM IT MAY CONCERN:**

NOTICE IS HEREBY GIVEN that the partnership heretofore existing between {{partner_name_1}} residing at {{partner_address_1}}, and {{partner_name_2}} residing at {{partner_address_2}}, carrying on business under the firm name and style of **{{partnership_name}}** (hereinafter referred to as “the Partnership”), with its principal place of business located at {{partnership_address}}, is hereby dissolved as of **{{effective_dissolution_date}}**.

Terms of Dissolution

The dissolution of the Partnership is effected in accordance with the terms of the Partnership Agreement dated {{partnership_agreement_date}}, or by mutual consent of the Partners.

All debts due to the Partnership shall be received by {{liquidating_partner_name}} of {{liquidating_partner_address}}, who is hereby authorized to collect and receive all outstanding amounts due.

All liabilities and obligations of the Partnership shall be discharged by {{liquidating_partner_name}}.

Assets and Liabilities

A full and complete accounting of all assets and liabilities of the Partnership will be undertaken by {{accountant_name}} of {{accountant_firm}} within {{number_of_days}} days from the effective dissolution date to determine the net assets for distribution among the Partners or for the settlement of outstanding liabilities.

Any remaining assets after the settlement of all liabilities will be distributed among the Partners in accordance with their respective capital contributions and profit-sharing ratios as stipulated in the Partnership Agreement.

Continuity of Business

Following the effective dissolution date, the Partnership will cease to conduct any new business. However, it will continue in existence solely for the purpose of winding up its affairs, discharging its debts, collecting and distributing its assets, and doing all other acts required to terminate its business fully.

Client and Creditor Notice

Clients, customers, and creditors of **{{partnership_name}}** are advised to direct all future inquiries and correspondence related to the Partnership's affairs to {{contact_person_name}} at {{contact_person_email}} or {{contact_person_phone_number}}.

Please note that after {{effective_dissolution_date}}, {{partner_name_1}} and {{partner_name_2}} will no longer be jointly and severally liable for any new obligations incurred in the name of the Partnership.

Indemnification

Each Partner hereby agrees to indemnify and hold harmless the other Partner(s) from and against any and all claims, demands, liabilities, costs, and expenses (including reasonable legal fees) arising from or related to any actions taken or obligations incurred by such Partner, individually, after the effective dissolution date, that are not authorized by this Notice or the winding-up process.

Governing Law

This Notice of Dissolution shall be governed by and construed in accordance with the laws of {{country_name}}.

Signature Block

Dated this {{day}} day of {{month}}, {{year}}.

_____________________________

{{partner_name_1}}

Partner

_____________________________

{{partner_name_2}}

Partner

Witnessed by:

_____________________________

{{witness_name}}

{{witness_address}}