A business contract termination agreement is a sort of contract which is drawn when the partners or owners of a business decide to terminate the ongoing business contract. The termination implies cancelling a contract before its actual expiry, reason for which may be varied. The sample given below is an example of a business contract termination agreement which gives all the required details in this respect.
Sample Business Contract Termination Agreement
Date of signing: 25th May 2012.
This contract has been prepared to be entered between The Lawson Art House and Philip Export House Pvt. Ltd., as on the date mentioned above.
As per the contract Mr. Gary Lawson of The Lawson Art House, has hereby terminates the contract whereby he assigned the export house by the name Philip Export House to carry on the export of their art pieces to the respective clients all over the world.
Details of the Business 1:
Business Name: The Lawson Art House
Authorized Personnel: Mr. Gary Lawson
Contact No.: 576-362-535
Details of the Business 2:
Business Name: Philip Export House Pvt. Ltd.
Authorized Personnel: Mr. Philip Berry
Contact No.: 679-592-095
Terms and Conditions:
- The contract being terminated stated that the specified export house will be given the sole responsibility of exporting and delivering all the overseas assignments of the art house.
- The termination of the contract does not indicate a block formation of any future business alliance between the business houses.
_________________________ (Mr. Gary Lawson)
_________________________ (Mr. Henry Forbes)
l;mso-b�Rfn`b g Symbol’>· The termination of this contract has no relation to any future alliance we may wish to form with the business entity.
- The first advance paid in non- refundable as per the contract. Also no father payments will be made in this regard.
Kindly convey your response to the earliest.
Mr. Mathew Hegel
Seth & Hegel Developers
United States of America.