Document background
The Business Termination Letter is a crucial document in Austrian business law, used when one party wishes to formally end a business relationship or contract with another party. It must comply with Austrian legal requirements, including those set forth in the ABGB (Austrian Civil Code) and UGB (Commercial Code). This document is essential when terminating ongoing business relationships, supplier contracts, service agreements, or other commercial arrangements. The Business Termination Letter should clearly state the termination intention, effective date, and reference the original agreement being terminated. It typically includes information about notice periods, outstanding obligations, and transition arrangements. The document serves both as a formal notification and a legal record of the termination process, protecting both parties' interests and ensuring compliance with Austrian business law requirements.
