Letter of termination of the contract

In today's market economy, business entities must have a flexible pricing policy and analyze the constantly changing conjuncture. In practice, there are quite often situations where agreements, drawn up earlier, become unprofitable for the organization over time and require revision. As a rule, the contract contains ways by which necessary changes must be made. But the organization that initiated the change must notify its counterparty. To do this, she can during the validity period of the agreement, sending a letter on the termination of the contract. This right is enshrined in Article 450 of the Civil Code of the Russian Federation.

A letter on termination of the contract, a sample of which can be found on the Internet, is issued on the company letterhead, and in case of its absence on the standard A4 sheet . At the beginning of the document, the details of the two parties that are counterparties are indicated. These data are processed in accordance with the established rules of record keeping. Requisites should reflect the information specified in the contract, which is subject to termination.

The title of the document is not reflected in such situations. The text should immediately lead to the essence of the message itself. For example, JSC "Autoria" notifies about the termination of the contract. After that, the agreement number and date when it was concluded are indicated. Further, it is necessary to point out the reasons that led to the decision to terminate the contract. To them it is possible to carry:

- non-compliance with the provisions of the current agreement;

- untimely transfer of funds.

The letter on termination of the contract should also contain the manner and procedure for termination of the concluded relations. The final part indicates the date from which the agreement will be considered invalid, and the obligations of the parties are terminated.

The letter on termination of the contract is fixed by the signature of the head of the business entity or by the person authorized to do so. It is mandatory to indicate his position and full name. The signature is certified by the seal of the organization. The document must be registered under the outgoing number in full accordance with the regulation on record keeping that is accepted at the enterprise. The letter is sent to the addressee by mail with a notification. In case of refusal of possible claims, receipts should be kept.

A single sample of the letter on termination of the contract is not developed by legislative acts. In this regard, each enterprise makes it arbitrarily, indicating in the text part all the necessary information.

A letter of termination of the contract should indicate the period that is given to the second party to the transaction for the answer. With a positive decision of the counterparty, the agreement is considered invalid from the moment of receipt of the letter from him. If the answer is not received within the specified period, or the second party does not wish to interrupt the contractual relations, the organization interested in the termination of the transaction has the right to file all the necessary documents with the court.

The grounds for terminating the agreement can be specified as conditions when it is drawn up. For example, Article 523 (clause 2) of the Civil Code of the Russian Federation fixes provisions where violations of obligations of one of the parties are recognized as significant. This can happen when:

- the sale of goods not corresponding to the declared quality, deficiencies in which are not eliminated in a period that suits the party-buyer;

- violations of the time of delivery or payment of products, as well as non-assembly of goods two or more times.

In this case, the injured party has the right to demand compensation for the losses incurred by it.

When drawing up a contract, counterparties may also provide for other cases on the basis of which the contract can be terminated.