A letter of agreement for a business partnership is an important document that outlines the terms and conditions of a partnership between two or more parties. The agreement helps to ensure that both parties have a clear understanding of their respective roles and responsibilities, as well as the benefits they can expect from the partnership.
Here is a sample letter of agreement for a business partnership:
[Date]
[Partnership Name]
[Address]
Dear [Partner’s Name],
This letter of agreement outlines the terms and conditions of our proposed business partnership. We are pleased to enter into this partnership with you and look forward to a mutually beneficial relationship.
Partnership Purpose: The purpose of our partnership is to [insert purpose here], with the ultimate goal of [insert goal here].
Duration: This partnership will last for [insert duration here], unless otherwise stated.
Partnership Responsibilities: We agree to share the responsibilities of the partnership as follows:
[Insert partner responsibilities here]
Compensation: Compensation for the partnership will be [insert compensation terms here], including any additional expenses that may be incurred.
Operation Expenses: All operational expenses, including but not limited to [insert expense categories here], will be shared equally between the partners.
Termination: This partnership agreement may be terminated by either party, with [insert notice period here], for any reason.
Confidentiality: Both parties agree to maintain confidentiality regarding the terms of this partnership agreement and any proprietary information shared between the partners.
Governing Law: This partnership agreement shall be governed by and interpreted in accordance with the laws of [insert governing jurisdiction here].
Entire Agreement: This letter of agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, representations, and understandings.
Signatures: This letter of agreement shall be executed in duplicate and signed by both parties.
We are excited about the potential of this partnership and look forward to working together. If you have any questions or concerns, please don’t hesitate to contact us.
Sincerely,
[Your Name and Title]
[Partner’s Name and Title]