A vendor termination contract is a legal document which is framed when the VENDEE wishes to terminate the contract made with the VENDOR. This document is legal in nature and any violation of the terms mentioned in it is met with legal implications.
Sample Vendor Termination Contract
Contract number: 901#FG
This contract is made effective on the date: 10’Th Feb.2011.
This agreement is made between the VENDEE and the VENDOR.
Details of the VENDEE
Name: Mr. Mark Anthony
Address: 23-K, Lane no. 2, London
Details of the VENDOR
Name: Mr. Greg Henry
Official Address: 7-P, Building 2, London
The original contract was made to deliver Food items from VENDOR to VENDEE.
Duration of original contract: 12 months which started from 1’St Jan, 2010?
The termination of this contract shall be made effective from 1’St March, 2011 and this document has been sent as a notice prior to the effective date.
The following are the terms and conditions of the contract:
- The VENDOR agrees to clear all the debts and the late payments including compensation charges to the VENDEE within 2 weeks.
- The VENDOR agrees to be loyal regarding the confidential information that has been shared between both parties and not leak it to any other competitive organisation.
- The VENDEE agrees to keep details of products and their prices confidential.
- Both the parties realise that this termination contract is not a result of personal issues but rather a professional matter.
Signatures of the parties:
Mark Anthony Greg Henry