Sales Policy on Contract Terminations
Document Prepared by: [Your Name]
Contact: [Your Email]
This policy outlines the conditions, procedures, and implications for the termination of sales contracts made between [Your Company Name] and its clients.
Grounds for Termination
Mutual Agreement: Both parties may mutually agree to terminate the contract before the end date, provided all conditions are met.
Breach of Contract: If either party fails to adhere to the terms and conditions stipulated in the contract.
Financial Instability: If the client declares bankruptcy or is found to be financially insolvent.
Non-payment: Consistent failure to make due payments after three reminders will initiate the termination process.
Notice Period
Standard Notice: A 30-day written notice is required for termination under mutual agreement.
Immediate Termination: In cases of breach of contract, financial instability, or consistent non-payment, [Your Company Name] reserves the right to terminate the contract immediately.
Financial Implications
Refunds: In cases of mutual agreement, any advance payment for services not yet delivered will be refunded, minus a 10% administrative fee.
Penalties: In instances of breach by the client, any deposit or advance may be forfeited as a penalty.
Outstanding Payments: All outstanding payments must be cleared within 15 days post-termination, regardless of the termination grounds.
Transfer of Rights and Obligations
Upon termination, all rights and obligations stated in the contract will cease, except where it is explicitly stated that they continue beyond the termination confidentiality clauses.
Dispute Resolution
Any disagreements regarding the termination will first be attempted to be resolved through mediation. If unsuccessful, legal action may be pursued. Legal proceedings will occur in the jurisdiction of [Your Company Address].
Amendments to this Policy
[Your Company Name] reserves the right to modify or replace this policy at any time. Clients will be notified of any changes through our official communication channels, including [Your Company Email Address] and [Your Company Website].
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