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Making a Notice of Contract Termination
A Notice of Contract Termination contains the terms under which you are permitted to terminate an agreement and also states when an established contract ends. A Notice of Contract Termination creates a record that you notified the other party about the cancellation of a contract and the effective end date. That way, you'll have proof if the other party claims something different in the future.
Before deciding to terminate a contract, make sure to read the agreement carefully to determine whether you can terminate the existing contract. Afterward, determine whether there is a set end date for the agreement and if there are any associated early termination fees. Once you confirm these details, you can proceed to give a formal declaration from you to the other party that you plan to cancel your contract by sending a Notice of Contract Termination.
Making a Notice of Contract Termination online is simple. Just answer a few questions, and Rocket Lawyer will build your document for you. Consider these questions beforehand to make the process speedier:
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A Notice of Contract Termination can serve as a courtesy to thank others for their services and preserve the relationship for the future. That said, when terminating a contract, be wary of being too polite because it might make the message you are sending unclear, which could potentially expose you to legal liability. To avoid this, make sure that the language you are using is easy to understand and clearly conveys the message that you are trying to get across.
Contracts can be terminated for a number of reasons. Popular reasons include an inability to pay, one party's failure to perform its obligations, an "act of God", or an expired time limit. If you have questions about ending a contract, ask a lawyer.