Contract Termination Agreement for Nigeria

Contract Termination Agreement Template for Nigeria

This document is a formal agreement governed by Nigerian law that effectively terminates an existing contractual relationship between two or more parties. It outlines the terms and conditions for ending the contract, including the effective date of termination, settlement of outstanding obligations, mutual releases, and any surviving provisions. The agreement ensures compliance with Nigerian contract law principles and includes necessary provisions for dispute resolution under Nigerian jurisdiction. It provides legal certainty and protection for all parties by clearly documenting the agreed terms of separation and helping prevent future disputes.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Contract Termination Agreement

Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc

What is a Contract Termination Agreement?

The Contract Termination Agreement is a crucial legal document used in Nigerian business practice when parties wish to formally end their contractual relationship before its natural conclusion or to document the end of an existing agreement. This document is essential in the Nigerian business environment where clear documentation of contractual relationships is vital for legal certainty. It typically becomes necessary when parties mutually agree to end their business relationship, when a project has concluded earlier than expected, or when circumstances make continued performance impractical. The agreement must comply with Nigerian contract law and typically includes provisions for final settlements, releases, and any ongoing obligations. It's particularly important in major commercial transactions where proper documentation of the termination can prevent future disputes and protect both parties' interests.

What sections should be included in a Contract Termination Agreement?

1. Parties: Identification of all parties to the termination agreement, including their full legal names, registration details, and addresses

2. Background: Recitals explaining the original contract details, reason for termination, and context of the termination agreement

3. Definitions: Definitions of key terms used in the agreement, including reference to defined terms from the original contract where relevant

4. Termination: Clear statement of termination, specifying the effective date and scope of termination

5. Mutual Release: Release of parties from obligations under the original contract, except for specifically preserved obligations

6. Settlement of Accounts: Details of final payments, reconciliation of accounts, and financial settlements between parties

7. Return of Property: Requirements for return or destruction of any property, documents, or materials

8. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction for dispute resolution

9. Entire Agreement: Confirmation that this represents the entire agreement regarding the termination

10. Execution: Signature blocks and execution requirements

What sections are optional to include in a Contract Termination Agreement?

1. Surviving Obligations: List of obligations that survive termination, used when certain provisions of the original contract need to remain in effect

2. Confidentiality: Obligations regarding confidential information, used when sensitive information was shared during the contract period

3. Non-Disparagement: Mutual agreements not to make negative statements about each other, particularly relevant in high-profile or sensitive terminations

4. Intellectual Property Rights: Provisions regarding ownership and use of IP post-termination, needed when IP was created or used during the contract

5. Employee Matters: Provisions regarding employees or contractors, relevant when termination affects employment relationships

6. Tax Provisions: Special tax considerations or allocations, used when termination has significant tax implications

7. Future Cooperation: Framework for any necessary future cooperation, used when ongoing interaction may be needed post-termination

What schedules should be included in a Contract Termination Agreement?

1. Original Contract: Copy or details of the contract being terminated

2. Settlement Statement: Detailed breakdown of final financial settlements, payments, or adjustments

3. Outstanding Obligations: List of any continuing obligations or commitments that survive termination

4. Property Inventory: List of properties, documents, or materials to be returned or destroyed

5. Execution Formalities: Any specific execution requirements or corporate authorizations needed under Nigerian law

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Nigeria

Publisher

Genie AI

Cost

Free to use
Relevant Industries

Oil and Gas

Manufacturing

Technology

Financial Services

Telecommunications

Construction

Real Estate

Retail

Healthcare

Education

Professional Services

Agriculture

Mining

Transportation

Energy

Relevant Teams

Legal

Procurement

Human Resources

Commercial

Operations

Finance

Compliance

Risk Management

Business Development

Contract Administration

Relevant Roles

Legal Counsel

Contract Manager

Business Development Manager

Chief Executive Officer

Chief Legal Officer

Commercial Director

Procurement Manager

Human Resources Director

Operations Manager

Project Manager

Risk Manager

Compliance Officer

General Manager

Company Secretary

Finance Director

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Reminder Letter For End Of Contract To Employer

A formal reminder letter for employment contract conclusion under Nigerian law, outlining end date and required actions.

find out more

Notice Of Termination Of Lease Agreement

A formal notice under Nigerian law used to terminate a lease agreement, containing all legally required information and complying with local property legislation.

find out more

Notice Letter For End Of Contract To Employer

A formal notice document compliant with Nigerian labor laws, used by employees to inform their employer of their intention to terminate their employment contract.

find out more

Letter Of Termination Of Contract To Employer

A formal notice under Nigerian law from an employee to their employer declaring their intention to terminate their employment contract, including termination date and transitional arrangements.

find out more

Lease End Notification Letter

A formal notice document under Nigerian law used to inform landlords or property managers about the termination of a lease agreement.

find out more

Lease 30 Day Notice Letter

A formal 30-day notice letter for lease termination under Nigerian law, providing official documentation of intent to end a lease agreement.

find out more

Letter To Apartment To End Lease

A formal notice document used in Nigeria to terminate a residential lease agreement, complying with Nigerian property law and state-specific tenancy regulations.

find out more

Renter Terminating Lease Letter

A formal notice document used in Nigeria by tenants to legally terminate their lease agreement, complying with Nigerian tenancy laws and notice period requirements.

find out more

Letter From Tenant To Landlord To Terminate Lease

A Nigerian-compliant formal letter template for tenants to legally terminate their lease agreement with their landlord.

find out more

Finish Contract Letter To Employer

A formal letter notifying an employer of employment contract termination in Nigeria, including notice period and final settlement details.

find out more

Ending Lease Agreement Letter

A formal notice document used in Nigeria to terminate a lease agreement, complying with Nigerian tenancy laws and specifying termination details and final arrangements.

find out more

Notice Of Termination Of Service Agreement

A formal notice under Nigerian law to terminate an existing service agreement, specifying termination details and ensuring legal compliance.

find out more

Rental Contract Termination Letter

A formal notice document under Nigerian law for terminating a rental agreement, including essential termination details and compliance with local property legislation.

find out more

Cancellation Of Lease Agreement

A Nigerian law-governed agreement that formally terminates an existing lease between landlord and tenant, settling all obligations and arranging property return.

find out more

Cancellation Of Service Letter To Vendor

A formal notification document under Nigerian law used to terminate vendor services, specifying termination details and managing outstanding obligations.

find out more

Terminate Real Estate Contract Letter

A formal letter for terminating real estate contracts under Nigerian law, providing official notice and specifying termination terms.

find out more

Notice Of Termination Of Fixed Term Contract

A formal notice document under Nigerian law used to terminate a fixed-term employment contract, specifying termination terms and conditions.

find out more

Letter Of Termination Of Tenancy Agreement By Tenant

A formal notice document used in Nigeria by tenants to legally terminate their tenancy agreement, complying with Nigerian property law requirements.

find out more

Final Agreement Letter

A formal document under Nigerian law that combines a business letter format with legally binding agreement terms to finalize and document agreed-upon terms between parties.

find out more

Rental Lease Cancellation Letter

A formal notice document for terminating rental lease agreements in Nigeria, compliant with Nigerian property law and local tenancy regulations.

find out more

Termination Of Rental Agreement Letter By Landlord

A formal notice under Nigerian law from a landlord to a tenant announcing the termination of a rental agreement and specifying the termination terms.

find out more

Partnership Agreement Termination Letter

A formal notice under Nigerian law to terminate a business partnership, outlining the dissolution terms and final obligations of all partners.

find out more

House Contract Cancellation Letter

A formal letter used in Nigerian jurisdiction to terminate a residential property contract or lease agreement, ensuring compliance with local property laws and regulations.

find out more

End Of Lease Letter To Tenant

A formal notice document used in Nigeria to inform tenants about lease termination, compliant with Nigerian property laws and outlining move-out requirements and procedures.

find out more

Termination Of Management Agreement Letter

A formal letter under Nigerian law that terminates an existing management agreement, outlining termination terms and final obligations.

find out more

Termination Of Contract By Mutual Consent Letter

A Nigerian law-compliant letter documenting the mutual agreement between parties to terminate an existing contract, including termination terms and settlement arrangements.

find out more

Rental Lease Termination Letter

A formal notice document used in Nigeria to terminate a rental lease agreement, complying with Nigerian property laws and outlining the termination terms between landlord and tenant.

find out more

Non Renewal Of Lease Letter

A formal notice under Nigerian law informing a tenant that their lease agreement will not be renewed upon expiration, providing legally required notice and specific termination details.

find out more

Letter Of Intent To Discontinue Services

A formal Nigerian legal document notifying the intention to terminate existing service arrangements, structured according to Nigerian contract law and business practices.

find out more

End Of Contract Letter To Client

A formal Nigerian business document notifying clients of contract completion, including final terms and obligations.

find out more

Contract Termination Acceptance Letter

A formal letter under Nigerian law acknowledging and accepting the termination of a contract, outlining the terms and conditions of the termination acceptance.

find out more

Termination Of Lease Letter To Landlord

A formal notice document used in Nigeria by tenants to inform landlords of their intention to terminate a lease agreement, complying with Nigerian tenancy laws and regulations.

find out more

Termination Letter For Leave And License Agreement

A formal legal notice under Nigerian law to terminate a leave and license agreement between property owner and occupant, specifying termination terms and handover arrangements.

find out more

Letter To Terminate Real Estate Agent

A formal notice compliant with Nigerian law to terminate the services of a real estate agent, including termination details and handling of pending matters.

find out more

Lease Expiration Letter

A formal notice under Nigerian law informing tenants of their lease expiration and providing essential information about the termination process.

find out more

Release Of Rental Agreement Form

A legal document under Nigerian law that formally terminates a rental agreement between landlord and tenant, ensuring mutual release of obligations and proper documentation of the termination process.

find out more

Letter Of Intent To Cancel Services

A formal notification document under Nigerian law used to communicate the intention to terminate service arrangements, including essential termination details and compliance with local regulations.

find out more

House Rent Agreement Cancellation Letter

A formal notice document used in Nigeria to terminate a residential lease agreement, complying with Nigerian tenancy laws and specifying the terms of lease termination.

find out more

Termination Letter To Agency

A formal letter under Nigerian law to terminate an existing agency relationship, specifying termination terms and post-termination obligations.

find out more

Termination Agreement Form

A Nigerian law-governed agreement that formally documents the mutual termination of a contractual relationship, including settlement terms and post-termination obligations.

find out more
See more related templates

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it

2 Docs LeftAccess Now