Legal Contract Termination Notice
[Month, Day, Year]
[Recipient's Name]
[Recipient's Address]
Subject: Notice of Contract Termination
Dear [Recipient's Name],
This letter serves as a formal notice of termination for the contract entered into between [Your Company Name] and [Recipient's Company Name/Recipient's Name], dated [Month, Day, Year], with contract number [Contract Number] (hereinafter referred to as "the Agreement"). As per the terms and conditions outlined in the Agreement, and in accordance with the applicable laws and regulations, we are hereby notifying you that [Your Company Name] has decided to terminate the Agreement, effective [Month, Day, Year] due to mutual agreement.
Please consider the following points regarding the termination process:
Outstanding Obligations: As of the termination date, all outstanding obligations should be fulfilled as per the terms laid out in the Agreement. This includes, but is not limited to, final payments, delivery of services or products, and any other pending deliverables.
Final Settlement: Any final settlement figures, including outstanding payments or refunds, shall be calculated and communicated to you no later than [Month, Day, Year]. We request your cooperation in facilitating a smooth settlement process.
Return of Property: If applicable, any property, confidential information, or materials belonging to [Your Company Name] currently in your possession should be returned no later than [Month, Day, Year]. Please coordinate with [Your Name] for the return process.
Non-Disclosure Agreement: We remind you that the Non-Disclosure Agreement (NDA) signed as part of the Agreement remains in effect post-termination, and you are obliged to maintain the confidentiality of all proprietary information as previously agreed.
Contact Information for Queries: Should you have any questions or require further clarification regarding this termination notice, please do not hesitate to contact [Your Name], at [Your Company Email] or [Your Company Number].
We would like to take this opportunity to thank you for the services rendered and cooperation extended during the tenure of the Agreement. We wish you all the best in your future endeavors.
Please acknowledge receipt of this termination notice by signing and returning a copy of this letter no later than [Month, Day, Year].
[Your Signature]
[Your Name]
[Your Job Position]
[Your Company Name]
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