Termination of Recruitment Agreement
I. Introduction
This Termination of Recruitment Agreement (the "Agreement") is made and entered into as of March 25, 2050, by and between:
BluCurrent, with its principal place of business located at Louisville, KY 40201 ("Client"), and
[Your Company Name], located at [Your Company Address] ("Agency").
The purpose of this Agreement is to formalize the termination of the recruitment services agreement between the Parties, effective on the date of execution.
II. Termination of Recruitment Services
A. Termination Effective Date
The Parties agree that the recruitment services agreement between them shall be terminated as of March 25, 2050. From this date, the Agency shall cease all recruitment activities on behalf of the Client.
B. Reasons for Termination
The termination may have been initiated for the following reasons (if applicable):
The Client has decided to end its recruitment partnership with the Agency.
The Client has decided to transition to an internal recruitment process.
The Agency has breached the terms of the initial recruitment agreement.
Both Parties mutually agree to terminate the contract.
C. Cessation of Recruitment Activities
Upon termination, the Agency agrees to:
Stop all recruitment for positions in the initial agreement immediately.
Give the client all candidate information collected until termination.
Provide the Client with all candidate applications, resumes, and interview records.
III. Final Payments & Obligations
A. Payment Terms
The Client agrees to pay the Agency for all recruitment services rendered up to the effective termination date. Payments shall be made within 30 days from the termination date, in accordance with the terms previously outlined in the initial agreement.
B. Refunds or Adjustments
If any candidates placed by the Agency are terminated within 90 days of employment, the Agency will refund a portion of the fee to the Client, as stipulated in the original agreement. The Agency agrees to adjust any final invoices accordingly.
IV. Confidentiality and Data Handling
A. Confidentiality Obligations
Both Parties agree to maintain confidentiality regarding all proprietary information, candidate data, and recruitment processes disclosed during the course of the agreement, even after the termination of the contract.
B. Data Return or Destruction
The Agency agrees to return or destroy all confidential information and materials related to the Client’s recruitment efforts within 15 days of the termination date, as per the Client’s instructions.
V. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of Kentucky, without regard to its conflict of law principles.
VI. Signatories
This Agreement is executed as of March 25, 2050, by the following authorized representatives:
For BluCurrent:
Name: Ena Cassin
Title: HR Director
Date: March 25, 2050
For [Your Company Name]:
Name: [Your Name]
Title: Recruitment Director
Date: March 25, 2050
For further questions or clarifications, please contact [Your Name] at [Your Email] or [Your Company Email].
Agreement Templates @ Template.net
