[Company’s Name]
[Company’s Address]
[Date]
[Asset Holder’s Name]
[Asset Holder’s Address]
RE: Termination of Contract
Respectfully,
We refer to the Agreement dated [Enter Date] entered between [Enter Company’s Name] and [Enter Asset Holder’s Name].
The said Agreement shall stand terminated with effect from [Enter Date of Termination] (hereinafter “termination date”). The Agreement is being terminated as a result of breach of the terms of the Agreement by you and your failure to rectify the breach.
You were required to duly perform your obligations and/or duties under the Agreement, which you failed to perform. You were given a notice of the breach, and has since refused to rectify it. Accordingly, this Agreement shall stand terminated on the said termination date.
This Notice of Termination does not waive the Company’s right to pursue other remedies to seek redress for any costs and/or expenses suffered consequential and incidental to your breach of the Agreement.
You further agree that the dispute resolution process outlined in the Agreement shall apply mutatis mutandis herein.
Sincerely,
______________
[Enter Name]
for [Enter Company’s Name]
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