If you are looking for a sample notice of cancellation of contract, you have come to the right place. Sometimes circumstances may change, and the parties involved may find it necessary to cancel a contract. It is essential to follow the right procedure and ensure that the cancellation of the contract is done correctly to avoid any legal ramifications. In this article, we will provide you with a sample notice of cancellation of contract that you can use as a guide.
Notice of Cancellation of Contract Sample
[Name of the Party Notifying the Cancellation]
[City, State Zip Code]
[Name of the Party Receiving the Notice of Cancellation]
[City, State Zip Code]
Re: Cancellation of Contract
Dear [Name of the Party Receiving the Notice of Cancellation],
This letter serves as formal notification that we are canceling the contract entered into on [Date of the contract] between our company, [Name of Your Company], and your company, [Name of the Other Party’s Company], for the [Name of the Service or Product].
The reason for the cancellation is [State the Reason for the Cancellation]. Unfortunately, we have found it necessary to terminate this contract, and we hope to find an amicable solution to this situation.
According to the terms and conditions of the contract, we are required to provide you with a notice of cancellation [State the Number of Days’ Notice Required]. Therefore, we are providing you with the required notice as of [Date of the Notice]. The cancellation will take effect [State the Date of the Contract Cancellation].
At this point, we would like to discuss any outstanding issues, including any payments that may be due. We request that you return any goods or materials that belong to our company. Please let us know if there are any issues that we need to address before the cancellation of the contract takes effect.
It has been a pleasure working with you, and we appreciate the opportunity to have done business with you. We look forward to maintaining a cordial relationship with your company in the future.
[Your Title and Company]
Cancelling a contract is not an easy decision to make, and it is essential to follow the right procedure to avoid any legal consequences. The above sample notice of cancellation of the contract can act as a guide when drafting your own. It is crucial to review the terms and conditions of the contract and ensure that you are following the stipulated procedure for cancellation. Once you have sent the notice, it is essential to follow up with any outstanding issues and ensure that the cancellation process is smooth and amicable.