The Termination Of Sales Contract is used when parties mutually agree to end their sales relationship or when termination becomes necessary due to specific circumstances. This document, governed by Singapore law, provides a clear framework for ending the contractual relationship while protecting both parties' interests. It addresses key aspects such as outstanding payments, delivery obligations, mutual releases, and surviving obligations. The document ensures compliance with Singapore's Contract Act, Sale of Goods Act, and relevant commercial legislation, providing legal certainty for all parties involved.
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1. Parties: Identification of contracting parties and their details
2. Background: Reference to original contract and circumstances leading to termination
3. Definitions: Key terms used in the termination agreement
4. Termination: Express termination clause and effective date
5. Mutual Release: Release of parties from future obligations
6. Settlement of Outstanding Obligations: Treatment of pending payments or deliveries
1. Survival Clauses: Provisions that continue after termination, used when certain obligations need to continue post-termination
2. Return of Property: Process for returning assets or materials, used when physical items or intellectual property need to be returned
3. Confidentiality: Ongoing confidentiality obligations, used when sensitive information was shared during the contract
1. Original Contract: Copy of the contract being terminated
2. Outstanding Payments Schedule: List of any remaining financial obligations
3. Inventory List: List of items to be returned or disposed of, applicable when physical goods are involved
Relevant legal definitions
Agreement
Original Contract
Effective Date
Termination Date
Outstanding Obligations
Settlement Amount
Parties
Goods
Confidential Information
Business Day
Force Majeure Event
Intellectual Property Rights
Representatives
Territory
Surviving Provisions
Liabilities
Claims
Losses
Related Entities
SGD
Singapore Dollars
Applicable Law
Return Period
Mutual Release
Original Contract
Effective Date
Termination Date
Outstanding Obligations
Settlement Amount
Parties
Goods
Confidential Information
Business Day
Force Majeure Event
Intellectual Property Rights
Representatives
Territory
Surviving Provisions
Liabilities
Claims
Losses
Related Entities
SGD
Singapore Dollars
Applicable Law
Return Period
Mutual Release
Clauses
Termination
Mutual Release
Settlement
Payment Obligations
Outstanding Deliveries
Return of Property
Confidentiality
Non-Disparagement
Warranties
Representations
Survival
Further Assurance
Entire Agreement
Severability
Assignment
Notices
Force Majeure
Waiver
Governing Law
Jurisdiction
Dispute Resolution
Costs
Amendment
Counterparts
Third Party Rights
Mutual Release
Settlement
Payment Obligations
Outstanding Deliveries
Return of Property
Confidentiality
Non-Disparagement
Warranties
Representations
Survival
Further Assurance
Entire Agreement
Severability
Assignment
Notices
Force Majeure
Waiver
Governing Law
Jurisdiction
Dispute Resolution
Costs
Amendment
Counterparts
Third Party Rights
Relevant Industries
Relevant Teams
Relevant Roles
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