Acknowledgement of Retirement from Partnership
Acknowledgement of Retirement from Partnership is used where a partner has retired from an existing partnership and the partnership is formally acknowledging the retirement.
It is drafted to be used alongside Long Form Partnership Agreement and may need to be adapted if the underlying partnership agreement differs significantly from that standard form.
What does Acknowledgement of Retirement from Partnership do?
It confirms the partner’s retirement and records the key agreed terms, including the date the retirement takes effect.
What does Acknowledgement of Retirement from Partnership cover?
It covers matters including:
- the effective retirement date
- the terms of the retirement
- repayment of sums due to the retiring partner
- restrictions the retiring partner will comply with following retirement
When should you use Acknowledgement of Retirement from Partnership?
Use it after the partnership has received a formal Letter of Retirement from the retiring partner and the partnership wants a clear written acknowledgement of the retirement and its terms.
Acknowledgement of Retirement from Partnership is part of Corporate. Just £38.50 + VAT provides unlimited downloads from Corporate for 1 year.