Document background
The Business Partner Termination Letter is a crucial document used when formally ending a business partnership in Malaysia. It serves as an official notification and legal record of partnership dissolution, requiring careful consideration of Malaysian contract law, particularly the Contracts Act 1950 and Partnership Act 1961. This document is essential when companies need to formally end their business relationship due to various reasons such as strategic changes, performance issues, or mutual agreement. It typically includes detailed information about the termination grounds, effective date, settlement terms, ongoing obligations, and transition arrangements. The document helps protect both parties' interests while ensuring a clear and legally compliant separation process.
