Termination of Contract Notice - Template, Sample Form Pro · NG-law

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Dear Sir/Madam,

RE: NOTICE OF TERMINATION OF CONTRACT FOR BREACH

§1. Introduction

1.1 This Notice is issued by ________ (the “Terminating Party”) to ________ (the “Defaulting Party”) in respect of the agreement titled ________ dated ________ (the “Contract”).

1.2 Reference is made to clause ________ of the Contract, which entitles a party to terminate the Contract upon the other party’s material breach and failure to remedy the same within the period stipulated therein.

§2. Particulars of the Breach

2.1 You were required under the Contract to perform the following obligation(s):

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2.2 In breach of the Contract, you have failed and/or neglected to perform the said obligation(s).

§3. Notice to Remedy and Failure to Cure

3.1 A notice of default in respect of the said breach was issued to you on ________, by which you were called upon to remedy the default on or before ________.

3.2 Notwithstanding the said notice and the opportunity afforded to you, you have failed, refused and/or neglected to remedy the default within the stipulated period, and the breach subsists as at the date of this Notice.

§4. Termination

4.1 By reason of the foregoing, the Terminating Party hereby gives notice of, and does terminate, the Contract pursuant to the relevant termination provisions thereof and the applicable principles of Nigerian contract law.

4.2 This termination shall take effect from ________, being a date consistent with the required ________ notice period and the other termination guidelines prescribed under the Contract.

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§5. Settlement of Outstanding Obligations

5.1 The Terminating Party shall settle all sums properly due and payable up to the effective date of termination on or before ________.

5.2 You are kindly requested to furnish the Terminating Party with a written statement of the amount(s) (if any) outstanding to you, duly itemised, to enable reconciliation and payment.

5.3 Upon termination, each party shall forthwith return to the other all property, documents, materials and confidential information belonging to the other party and remaining in its possession or control.

§6. Survival and Continuing Obligations

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§7. Governing Law

7.1 This Notice and the matters arising herefrom shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria, and any dispute shall be resolved in the manner prescribed in the Contract and, failing such provision, before the courts of ________.

§8. Enquiries and Acknowledgement

8.1 Should you require any clarification or further information regarding this Notice, please contact the Terminating Party by telephone on ________ or by email at ________.

8.2 Kindly acknowledge receipt of this Notice and treat the contents as a matter of urgency. We trust that all outstanding obligations will be settled in accordance with the terms set out above. Thank you for your cooperation in this regard.

Yours faithfully,

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