Please confirm receipt of this letter as termination of our contract and the conclusion of our account. If you have any questions, you can contact me at [phone] or [email address]. In principle, a cooperation contract can only be terminated if (i) the duration of the contract has expired or (ii) if one of the contracting parties does not meet its obligations under the contract. The lack of compliance must be assessed based on the circumstances of the case. The prior identification of what is non-compliance by the parties avoids conflict. we inform you that from [date], we no longer need the [company name] services. With this notification, we respect the minimum termination period required by our agreement. Your company has provided us with a good service in the past, but we have chosen to terminate our business contract for [reasons]. As a general rule, a termination contract comes into effect on a date set by the parties to the agreement. The agreement can be triggered by other means, such as .B. Manual delivery, delivery by an agent or if seven days elapsed after they were placed at the post office with prepaid port. It is important to include in the cooperation agreement the reasons why cooperation can cease.
At the beginning of the cooperation agreement, this is obviously not the first thing you are thinking about, but of course you may be in conflict with the other party or the other party is not complying with the obligations of the cooperation agreement. In this case, it is convenient for you to terminate the contract. The high degree of contractual freedom in the development of cooperation agreements allows the parties to decide for themselves what they want to include in the agreement. There are a number of essential elements that should indeed be included in any cooperation agreement. First, the cooperation agreement should define the parties participating in the agreement and the objective of cooperation. Second, it should define the rights and obligations of each of the parties in terms of cooperation. It goes without saying that the cooperation agreement should also cover the duration of cooperation, the reasons for dismissal, the consequences of termination, conflict management and control regimes. The provisions that will be incorporated and those that will not will depend on cooperation.
That is why a cooperation agreement can be described as a truly tailored agreement. LawDepot`s termination agreement is written by default to take effect on a specific date. This letter template is intended to assist in the drafting of the termination of a commercial contract with another company. It contains key elements to avoid misunderstanding and to end a partnership on consensual terms. Some states call this a ”cooling time,” and it generally applies to the cancellation of transactions that take place in an area other than the seller`s permanent location, such as.B. door-to-door sale or fair sale. 1. Defined notions. The great words, which are not defined differently here, have the meaning that these terms are attributed in the agreement.
CONSIDERING that the parties have reached an agreement on the exclusive representation of distributors, promotion and cooperation of 10 May 2004, amended in June 2004, 4 October 2004, 27 October 2005, November 2005, August 2006 and 16 February 2007 (the ”agreement”); From that point on, our company will no longer place orders with your company. We will not cancel any orders or delivery agreed upon prior to this letter, unless we expressly notify you. Ideally, all pending orders should be completed before our contract is officially terminated.