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Termination Of Contract By Agreement
"I need a Termination of Contract by Agreement under Indonesian law for a software development agreement with our vendor PT Tech Solutions, with the termination to take effect on March 1, 2025, including provisions for the handover of source code and ongoing maintenance support for 3 months."
1. Parties: Identification of all parties to the termination agreement, including their legal names, addresses, and registration numbers
2. Background: References to the original contract, reason for termination, and confirmation of mutual agreement to terminate
3. Definitions: Definitions of key terms used in the termination agreement
4. Effective Date of Termination: Clear statement of when the original contract will terminate
5. Mutual Release: Parties' agreement to release each other from future obligations under the original contract
6. Settlement of Outstanding Obligations: Details of any remaining payments, services, or obligations to be fulfilled
7. Return of Property: Requirements for returning any physical or intellectual property
8. Confidentiality: Confirmation that confidentiality obligations survive termination
9. Governing Law: Confirmation of Indonesian law as governing law
10. Execution: Signature blocks and execution requirements
1. Transition Arrangements: Details of any transitional period or handover requirements, used when service continuity is important
2. Survival Clauses: Specific clauses from the original agreement that will survive termination, used when certain obligations need to continue
3. Non-Compete/Non-Solicitation: Restrictions on future business activities, used when protecting business interests is crucial
4. Tax Provisions: Handling of tax matters related to the termination, used when significant financial settlements are involved
5. Public Announcements: Guidelines for announcing the termination, used for high-profile or public-facing contracts
6. Dispute Resolution: Specific procedures for resolving any future disputes, used when parties want to specify alternative dispute resolution methods
1. Schedule 1 - Outstanding Payments: Detailed list of any outstanding payments or financial settlements
2. Schedule 2 - Property Inventory: List of properties or assets to be returned or transferred
3. Schedule 3 - Completion Checklist: Checklist of actions required to complete the termination process
4. Appendix A - Original Contract: Copy of the original contract being terminated
5. Appendix B - Settlement Calculations: Detailed calculations of any financial settlements or adjustments
6. Appendix C - Handover Plan: Detailed plan for transitioning any services or responsibilities
Authors
Original Contract
Effective Date
Termination Date
Outstanding Obligations
Confidential Information
Intellectual Property Rights
Force Majeure
Business Day
Completion Checklist
Handover Materials
Mutual Release
Parties
Representatives
Settlement Amount
Surviving Provisions
Transition Period
Working Hours
Related Entities
Governing Law
Dispute
Property
Outstanding Payments
Claims
Liabilities
Definitions
Termination Date
Mutual Release
Settlement of Accounts
Return of Property
Confidentiality
Non-Disparagement
Intellectual Property
Transition Arrangements
Outstanding Obligations
Representations and Warranties
Release of Claims
Survival Provisions
Further Assurance
Costs
Notices
Entire Agreement
Amendment
Severability
Waiver
Assignment
Force Majeure
Governing Law
Dispute Resolution
Language
Counterparts
Third Party Rights
Public Announcements
Data Protection
Manufacturing
Technology
Construction
Retail
Professional Services
Financial Services
Healthcare
Education
Transportation
Energy
Telecommunications
Real Estate
Hospitality
Agriculture
Mining
Legal
Procurement
Operations
Finance
Compliance
Risk Management
Commercial
Business Development
Contract Administration
Corporate Secretariat
Legal Counsel
Contract Manager
Business Development Manager
Chief Executive Officer
Chief Operating Officer
Procurement Manager
Project Manager
Commercial Director
Compliance Officer
Risk Manager
General Manager
Operations Manager
Finance Director
Company Secretary
Legal Manager
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