A business contract termination letter is usually made when a contract does not work anymore between two parties that work together in a business relationship. It may be caused by one party no longer need the services of another entity or it dissatisfied by an entity served on a contract.
Business Contract Termination Letter
A business contract termination letter is also called a contract termination notice or cancellation of the contract notice. a business contract termination letter is declared formally that indicates the sender’s intention to end the contract between him and the receiver.
Contract Termination Agreement Content
The business contract termination letter is necessary because it needs to have a written data of when and how the contract ended or whether a contract should end in writing. The business contract termination letter also provides a courtesy record to grateful to another party about their services and create a contract cancellation record. The business contract termination letter should conclude:
- The contract purpose.
- The date of the contract.
- The reason for ending the contract.
- Termination obligations.
- The letter date
Letter to End Business Relationship
On your letter use word and tone that shows professionalism rather than the reason for terminating the business contract. First, state your intention to end the existing contract included the time the termination will start. Do not hesitate to state a reason or facts why your company wants to terminate a business contract.
Sample Letter of Termination of Contract Service
Note any services or monies by both parties. In the end, do not miss to tell how outstanding service is. Here sample letter of termination of contract service if you have no idea how to start a termination contact letter.
Dear Mr. Jill,
By this letter, I inform you, that by January 1 2020 my company will no longer use Jack and Jill Supply as our main supplier. This letter is an official monthly notification stated in our contract. I am ending the contract due to our number of demand in our supply items that your company can not any longer full filled.
On February 1, 2021, Our company will officially add another branch in three different cities. It forced us to provide many numbers of goods to our operation process. So It is no longer relate if we still use your supply that not enough for our need.
Along with the transition our demand orders will decrease until next month. We already have business contracts to provide more goods for our new branches with other suppliers.
Please note that we have no problem with your quality but since our business becomes a bigger day time by time we need a supplier that can fulfill our need for goods.
Thank you so much for your outstanding service have provided all this time. For further information please call me at (+91)-000-5555.
Trunchbull corp, CEO
Not all business contract termination letters end in disagreement disappointment. A business contract termination letter sometimes provides a courtesy record to grateful for other parties service. It also preserves a courteous and hoping for better future professional relationship
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