Letter for Termination of an Agreement - Template Form

Date: ________

________
________

Dear ________,

Sub: Termination of the agreement: ________ dated ________

We refer to the following agreement: ________ dated ________ ("Agreement") entered into between ________ and ________.

1. The arrangement between ________ and ________ under the Agreement for the following:

________,

shall stand terminated with effect from ________.

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________

You were given a notice to remedy the breach on ________ and the breach was to be rectified by ________. However, you failed to rectify the breach by ________. Accordingly, the Agreement shall stand terminated with effect from ________.

3. An amount of Rs. ________ (________) is due to be paid by ________ to ________. The said amount shall be paid by ________ to ________ within the following period: ________ from the date of this letter.

4. The amount of Rs. ________ (________) to be paid by ________ to ________ shall be full and final settlement of all dues and outstandings and no further amounts shall be payable under the Agreement.

5. The following actions are required to be taken by the parties under the Agreement pursuant to termination:

________

6. Each of ________ and ________ hereby agree that the Dispute Resolution provisions contained in the Agreement shall mutatis mutandis apply herein.

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Sincerely,

________

Accepted:

For and on behalf of ________