The Termination of Consultancy Agreement is a crucial document used when parties wish to formally end their consultancy relationship in Malaysia. It's typically employed when either party wishes to terminate the arrangement before its natural conclusion, or when documenting the agreed end of a consultancy engagement. The document addresses key aspects such as final settlements, intellectual property rights, confidentiality obligations, and post-termination arrangements, ensuring compliance with Malaysian contract law and protecting both parties' interests. This agreement is particularly important in professional services contexts where clear documentation of the termination terms and ongoing obligations is essential for risk management and legal certainty.
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1. Parties: Identification of the company and consultant, including full legal names, registration numbers, and addresses
2. Background: Brief recap of the original consultancy agreement and the context leading to termination
3. Definitions: Key terms used throughout the agreement, including references to the original consultancy agreement
4. Termination: Clear statement of termination, effective date, and basis for termination
5. Final Payment and Settlement: Details of any final payments, fees, or reimbursements due to the consultant
6. Return of Property: Requirements for returning company property, documents, and materials
7. Confidentiality: Ongoing obligations regarding confidential information post-termination
8. Intellectual Property: Confirmation of IP ownership and transfer of any pending work
9. Mutual Release: Release of claims and liabilities between parties
10. Continuing Obligations: Identification of which obligations from the original agreement survive termination
11. Governing Law: Confirmation of Malaysian law as governing law and jurisdiction
12. Execution: Signature blocks and execution details
1. Non-Compete Obligations: Include when the original agreement contained non-compete provisions that need to be addressed or modified
2. Transition Arrangements: Include when there's a need for knowledge transfer or handover of ongoing projects
3. Reference and Announcements: Include when parties want to agree on how the termination will be communicated to third parties
4. Tax Indemnity: Include when there are significant tax implications that need to be addressed
5. Dispute Resolution: Include when parties want to specify detailed dispute resolution procedures
6. Insurance: Include when there are ongoing insurance obligations or claims to be addressed
7. Third Party Rights: Include when there are third party beneficiaries or rights that need to be addressed
1. Schedule 1 - Final Payment Calculation: Detailed breakdown of final payments, including any pro-rated fees, expenses, or deductions
2. Schedule 2 - Company Property List: Itemized list of company property to be returned
3. Schedule 3 - Ongoing Projects: List of projects requiring transition or handover
4. Schedule 4 - Surviving Obligations: Detailed list of specific clauses from original agreement that survive termination
5. Appendix A - Original Consultancy Agreement: Copy of the original consultancy agreement being terminated
6. Appendix B - Final Release Form: Form documenting mutual release of claims
Relevant legal definitions
Agreement
Business Day
Company
Company Property
Confidential Information
Consultant
Effective Date
Final Payment
Intellectual Property Rights
Original Agreement
Parties
Professional Fees
Services
Termination Date
Transition Period
Working Hours
Completion Certificate
Confidentiality Obligations
Consultancy Period
Outstanding Deliverables
Release
Settlement Sum
Surviving Obligations
Territory
Work Product
Business Day
Company
Company Property
Confidential Information
Consultant
Effective Date
Final Payment
Intellectual Property Rights
Original Agreement
Parties
Professional Fees
Services
Termination Date
Transition Period
Working Hours
Completion Certificate
Confidentiality Obligations
Consultancy Period
Outstanding Deliverables
Release
Settlement Sum
Surviving Obligations
Territory
Work Product
Clauses
Termination
Payment
Release
Confidentiality
Intellectual Property
Non-Compete
Property Return
Indemnification
Representations and Warranties
Governing Law
Dispute Resolution
Severability
Entire Agreement
Amendment
Notice
Assignment
Third Party Rights
Waiver
Force Majeure
Data Protection
Transition
Tax
Insurance
Compliance
Survival
Payment
Release
Confidentiality
Intellectual Property
Non-Compete
Property Return
Indemnification
Representations and Warranties
Governing Law
Dispute Resolution
Severability
Entire Agreement
Amendment
Notice
Assignment
Third Party Rights
Waiver
Force Majeure
Data Protection
Transition
Tax
Insurance
Compliance
Survival
Relevant Industries
Technology
Financial Services
Management Consulting
Healthcare
Engineering
Construction
Education
Manufacturing
Energy
Telecommunications
Professional Services
Real Estate
Retail
Hospitality
Media and Entertainment
Relevant Teams
Legal
Human Resources
Procurement
Operations
Finance
Compliance
Risk Management
Executive Leadership
Administration
Project Management
Contract Management
Relevant Roles
Legal Counsel
Human Resources Director
Chief Executive Officer
Chief Operating Officer
Procurement Manager
Contract Manager
Project Manager
Operations Director
Finance Director
Company Secretary
Risk Manager
Compliance Officer
Business Development Manager
Department Head
Managing Director
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