A contract termination letter provides formal notification of the decision of a party to terminate or cancel an agreement. Business contracts which are delivered on an ongoing basis need to be terminated correctly to avoid any disputes. Whether the contract involves regular delivery of goods, the supply of services or another open ended business relationship, it is vital that proper notification is given of a decision to bring the business arrangement to a close.
Make sure you follow proper procedure when you wish to bring a contract to an end with this contract termination letter. This letter to end a contract is required to notify the other contracting party when you wish to end a contract immediately or by notice. Preparing this letter will help ensure that unnecessary damages won't be brought against you by the other party to the contract. This contract termination letter covers the type of notice used and the period of time before the notice takes effect.