A partnership of any kind is undertaken when both parties see some benefit in this. The partnership can end up helping both parties in advancing their business. Therefore, this is something that is important and needs to be done carefully. Some certain procedures and documents need to be created during the process. One of these includes a partnership confirmation letter.
What is a partnership confirmation letter?
A partnership confirmation letter is written when a business agrees to a partnership request from another business. It confirms their desire to enter the agreements and work with the other party.
Importance of a partnership confirmation letter:
A business probably got a partnership request letter to which they are responding. The confirmation letter shows that the recipient is interested in the offer. The letter will show the sender that they are serious to work with them. This confirmation letter can be kept as legal proof in case this is needed at any time.
Tips to create a partnership confirmation letter:
The partnership confirmation letter is a serious and professional one. It should therefore be written like this. The following tips can be kept in mind when making it:
Microsoft Word: You need to select the best application to write the letter in. It should be typed, and Microsoft Word is good for this.
Senders’ details: You can start by stating the sender’s name, address, etc. The date the letter has been written should be given.
Recipients’ details: After this, the recipients’ details will be given including their name, address, etc.
Subject: It is a good idea to include the subject of the letter. This can be in bold. It summarizes the intention of this letter. It is optional to include.
Begin the letter: The letter may start with “Dear” and then the recipient’s name. In the first paragraph, you will state that you are glad to confirm that the partnership has been accepted. Mention the name of the organization as well. You will refer to the previous discussions as well as meetings held towards this purpose.
Arrange in paragraphs: Have a proper format for the letter as it is a professional one. Include logical paragraphs. You may want to state that a meeting is needed to sign the final procedure to begin the partnership. You can state the details of your assistant with whom contact can occur regarding this.
State that the partner should give their preferences as well. If you have included a draft copy of the agreement state it. Mention that the recipient must check out the letter carefully and fix any errors. Display your interest in working with the business and hope that the partnership will be one that will benefit both parties.
End the letter: Add a paragraph where you include details allowing the business to contact you if needed. End with “Regards”. Include a hand-written signature. State your name, address, contact number, date, etc.
Interest should be shown clearly: You want to express your desire to work with the other party. They have to see that you are interested in doing this. You will have to respond professionally and seriously. Involve the other party and show that you are interested to hear what they have to say and how they want to further succeed. You do not want the recipient to feel that they have made a mistake asking to work in a partnership with you.
Be precise: Only include important information in the letter. You want the reader to read it and understand it. Make the letter short and precise. The wording must not be confusing as well.
A partnership confirmation letter should be made carefully with no grammatical errors. You need to give a good impression of your business and the way that you work. Draft the letter carefully. It should follow a professional format. Choose a good and readable font to print it in. Show your thanks that the other party regards your business as one that they wish to have a partnership with. Include information about how to proceed so that both parties can work together and get benefits from the partnership.
Subject: Partnership confirmation with [X]
We appreciate your interest in becoming our partner for new product development. This letter tends to inform you that we have accepted your formal offer to be our business partner. I hope this is going to be a great deal for both of us and we shall draw mutual benefits out of it.
I have worked on it and prepared its tentative draft which is as follows:
- Your ownership percentage in this shared business will be 50%.
- Profit and loss will be shared on equal basis.
- Procedure of third-party validation will be adopted for audit purposes.
- This partnership is initially for a period of five year.
- Renewal of this partnership contract is subjected to completion of specific milestone.
- A comprehensive mechanism is to be decided to resolve business related disputes.
Formulation of strategies as to how to fulfill these above-mentioned points will be discussed in our meeting. Please read the above-mentioned conditions thoroughly and let me know about any changes to be incorporated. Otherwise, a formal meeting is required to spell out the final terms and conditions of our partnership agreement. My manager will call you about the fixation of the upcoming meeting date. Inform me if you have a feasible date in your mind. Once we sign this partnership contract, we will have to stick with its terms and conditions.
I am also enclosing a copy of the legal letter containing the above-mentioned conditions in detail. It is essential for you to understand all points of this partnership agreement to avoid any confusion. Lastly, I am looking forward to establishing a long-term partnership with you. I hope it will be beneficial for both of us. Please feel free to contact me if you have any questions in your mind regarding this association. Thank you again.
File: Word (.docx) 2007+ and iPad
Size 24 Kb