Statement of Withdrawal
Statement of Withdrawal
Prepared by: [YOUR NAME]
Company: [YOUR COMPANY NAME]
Date: [DATE]
I. Introduction
This document formally announces the intention of [YOUR NAME], henceforth referred to as "the Withdrawing Partner," to exit the partnership currently held with [PARTNER'S NAME], henceforth referred to as "the Remaining Partner." The partnership, established on [START DATE OF PARTNERSHIP], will see a structured and strategic withdrawal as outlined in the sections below.
II. Reason for Withdrawal
The decision to withdraw from the partnership follows a comprehensive review of strategic goals aligned with personal and professional objectives. Key reasons include:
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New strategic directions
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Shift in business focus
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Personal reasons such as [specify if applicable]
This decision does not reflect any disputes or disagreements but is purely based on strategic alignment with future aspirations.
III. Legal and Financial Arrangements
All legal and financial aspects related to the withdrawal will adhere to the terms outlined in our initial partnership agreement dated [DATE OF INITIAL AGREEMENT]. Key aspects include:
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Settlement of any outstanding debts and liabilities shared by the partners till the date of withdrawal.
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Re-allocation of partnership assets and resources.
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Handling of existing commitments and ongoing contracts.
IV. Communication with Stakeholders
Transparency with clients, suppliers, and internal teams is paramount during this transition. A formal notification plan includes:
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Client notification through email and personal meetings by [NOTIFICATION DEADLINE DATE].
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Supplier briefings to re-assign contacts.
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Internal team meetings to ensure business continuity.
V. Timeline for Withdrawal
The withdrawal process is set to begin on [START DATE OF WITHDRAWAL] and is expected to be completed by [END DATE OF WITHDRAWAL]. During this period, the Withdrawing Partner will work collaboratively to ensure a smooth transition.
VI. Closing Statement
The decision to withdraw from the partnership with [PARTNER'S NAME] is made with both a heavy heart and optimism for the future. It is desired that this process proceed amicably respecting the shared goals and vision established at the inception of our partnership.
[YOUR NAME]
[DATE SIGNED]
[PARTNER'S NAME]
[DATE SIGNED]
