A Contract Termination By Agreement is utilized when parties to an existing contract mutually decide to end their contractual relationship before its natural conclusion. This document, governed by English and Welsh law, provides a clear framework for termination, protecting all parties' interests and preventing future disputes. It typically includes details about outstanding obligations, effective termination date, mutual releases, and any surviving provisions. The agreement is particularly useful when parties wish to maintain good relations while formally documenting the end of their business relationship.
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1. Parties: Identification and details of all parties to the termination agreement
2. Background: Details of the original contract and reasons for termination
3. Definitions: Key terms used throughout the agreement
4. Termination Date: Specific date when the original contract will terminate
5. Mutual Release: Release of parties from obligations under the original contract
6. Settlement of Outstanding Obligations: Agreement on handling any remaining payments or duties
7. Governing Law: Confirmation of applicable law and jurisdiction
1. Survival Clauses: Identifies which provisions survive termination - use when certain obligations need to continue post-termination
2. Confidentiality: Ongoing confidentiality obligations - use when sensitive information was shared during the contract
3. Return of Property: Process for returning any physical or intellectual property - use when property or materials were exchanged
4. Non-Disparagement: Agreement not to make negative statements about other parties - use in sensitive commercial relationships
1. Schedule of Outstanding Payments: Details of any remaining financial obligations
2. Schedule of Properties/Assets to be Returned: List of items to be returned between parties
3. Schedule of Surviving Obligations: List of contractual obligations that continue after termination
4. Original Contract: Copy of the contract being terminated
Relevant legal definitions
Agreement
Original Contract
Effective Date
Termination Date
Parties
Outstanding Obligations
Confidential Information
Intellectual Property Rights
Business Day
Mutual Release
Representatives
Surviving Provisions
Settlement Amount
Termination Payment
Liability
Claim
Dispute
Group Company
Material Breach
Property
Related Agreements
Working Hours
Original Contract
Effective Date
Termination Date
Parties
Outstanding Obligations
Confidential Information
Intellectual Property Rights
Business Day
Mutual Release
Representatives
Surviving Provisions
Settlement Amount
Termination Payment
Liability
Claim
Dispute
Group Company
Material Breach
Property
Related Agreements
Working Hours
Clauses
Termination Date
Mutual Release
Settlement of Obligations
Outstanding Payments
Return of Property
Confidentiality
Non-Disparagement
Intellectual Property Rights
Data Protection
Surviving Provisions
Warranties and Representations
Release of Claims
Further Assurance
Costs
Entire Agreement
Severability
Third Party Rights
Notices
Assignment
Waiver
Force Majeure
Governing Law
Jurisdiction
Mutual Release
Settlement of Obligations
Outstanding Payments
Return of Property
Confidentiality
Non-Disparagement
Intellectual Property Rights
Data Protection
Surviving Provisions
Warranties and Representations
Release of Claims
Further Assurance
Costs
Entire Agreement
Severability
Third Party Rights
Notices
Assignment
Waiver
Force Majeure
Governing Law
Jurisdiction
Relevant Industries
Relevant Teams
Relevant Roles
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