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Contract Termination Notice

In the trading world, it is not possible for a company to always work alone in the market and not ask any other supplier or organization to help or provide something. For example, a company deals in computer parts but it needs to hire a cargo company for the shipment of the parts to different cities. This way, it hires a cargo company on contract and when there is a violation in the contract clauses by the cargo company, the computer firm terminates the contract or asks the cargo company to stop their operations immediately.

Brief description of contract termination notice:

When we talk about contracts, there is something that is very important to discuss; the clauses, rules, regulations and terms of the contract. These terms and conditions keep both companies legally bound to provide what they agreed before. For example, two companies sign a contract where one company is a supplier and the other company will pay for its supplies. Now the first company is bound to provide the supplies where the receiver is bound to pay for the supplies.

In case any of the company violates any clause or term of the contract, the other company reserves the right to terminate the contract immediately. This way, the company that violated the rules is punished for their mistake and most of the time, these terminations are followed by legal procedures i.e. cases in courts. To inform the other company that they have violated the contract, the other company prepares an official document that shows the reasons of the contract termination and it is referred to contract termination notice.

Before preparing such notices, companies call the representatives of each company to sit together and talk about what happened. If they settle their dispute in the meeting, there won’t be any law suit or terminations where on the other hand, if they fail to solve the issue, they are provided with a termination notice for the contract.

Elements of a contract termination notice:

  • Name of the company who wants to terminate the contract
  • Details and specifications of contract that is being terminated
  • Name of the service provider (the other company)
  • Date of issuance of the notice
  • Possible reasons of termination
  • Any particular details about the outcomes of the notice for the other company
  • Authentication by the company (i.e. signature, witnesses and stamps)

Where to get a contract termination notice?

There is no specific way to find a contract termination notice but there are many lawyers that can prepare the paper work for the companies. Most of the time, companies ask their own legal department or HR department to prepare the documentation work for the termination of a contract and it’s usually done in the presence  of the other company’s representatives.

This is something that is only done in this particular kind of notice that it’s not sent to the other company by post but officials of that company are present in the meeting while the termination notice is being prepared.

Sample Contract Termination Notice:

Here is a sample Contract Termination Notice created using MS Word,

Contract Termination Notice

Here is download link for this Contract Termination Notice,

Download Contract Termination Notice

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