Puerto Rico Sample Letter for Cancellation of Contract — No Fault: [Your Name] [Your Address] [City, State, Zip Code] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Job Title/Position] [Company Name] [Company Address] [City, State, Zip Code] Subject: Cancellation of Contract — No Fault Dear [Recipient's Name], I hope this letter finds you well. I am writing to formally request the cancellation of the contract between [Your Name/Company] and [Recipient's Name/Company] dated [Contract Date], due to no fault on either party's side. After careful consideration and a thorough evaluation of our business needs and priorities, we have come to the decision that it is mutually beneficial to terminate the contract. Despite the successful collaboration and efforts invested to date, recent changes in our strategic direction require us to reallocate our resources and shift our focus towards other business opportunities. We acknowledge that as per the terms and conditions outlined in the contract, a termination notice period of [notice period stated in the contract] is required. We assure you that we will adhere to this notice period and fulfill our contractual obligations during this time. To ensure a smooth transition, we propose the following plan of action: 1. Initiate a meeting: We kindly request a meeting to discuss the cancellation process, resolve any outstanding matters, and identify the necessary steps for an amicable termination. 2. Inventory and return of properties: We will compile an inventory list of all materials, documents, or properties exchanged as part of the contract. Any borrowed items will be promptly returned to your organization in the condition they were received. 3. Payment settlement: We will review the financial aspects of the contract and promptly settle any outstanding payments or fees owed as per the agreed terms. We kindly request you to provide a final invoice for our records. 4. Transition support: We are committed to providing reasonable support during the transitional phase, ensuring a smooth handover of any ongoing projects or tasks. We will work closely with your team, sharing our knowledge and providing necessary assistance to facilitate a seamless transition. We would like to express our gratitude for the professional and successful collaboration we have enjoyed during the tenure of this contract. Although our business relationship will end, we sincerely hope to maintain a positive and cordial rapport based on mutual respect. Please confirm your understanding of this letter's content and your agreement to proceed with the cancellation by providing a written acknowledgement. We kindly request that you prepare the necessary termination agreement or contract release document for our respective signature. Should you have any questions or require further clarification, please do not hesitate to contact me at [Your Phone Number] or [Your Email Address]. We look forward to resolving this matter efficiently and with the utmost professionalism. Thank you for your attention to this matter, and we wish you continued success. Sincerely, [Your Name] [Your Job Title/Position] [Your Company Name]
Puerto Rico Sample Letter for Cancellation of Contract - No Fault
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FAQ
The most common way to terminate a contract, it's just to negotiate the termination. If you want to get out of a contract, you just contact the other party involved and you negotiate an end date to that contract. There may be a fee to pay for cancellation. You might want to offer some type of consideration to cancel.
Writing Tips for Cancellation LettersKeep it simple, straightforward and to the point.State clearly that you are canceling your contract and include a simple reason why.If you owe any money on the account, request a final bill or enclose the payment.
To cancel a contract, take the following steps:Make sure you send the cancellation notice within the time allowed.Always cancel in writing. You can use the cancellation form or send a letter.Keep a copy of your cancellation notice or letter.Send your cancellation notice by certified mail, return receipt.
Terminating a contract without cause To legally terminate a contract without cause, there needs to be a termination for convenience clause specifically stated. There is no grounds to terminate for convenience if this clause is not included in the contract. A termination for convenience clause cuts both ways.
It requires one or both parties to meet certain obligations outlined in the contract. Canceling a contract is permissible in some instances, making it void of legal binding. Only the parties involved in the contract can cancel it.
We inform you that we will no longer require the services of name of company, as of date. With this notification, we comply with the minimum notice period required by our agreement. Your company has provided us with good service in the past, however, we decided to terminate our business contract due to reasons.
Sample Template As per the contract if I cancel my service withing 30 days notice period there is no penalty. The final payment is made by me and I am enclosing a copy of my contract. Your services were very good and I look forward to renew your contract at my new location. Kindly confirm my contract cancellation.
A contract is void for any of the following reasons:The contract included unlawful consideration or object.One of the parties was not in their right mind at the time the agreement was signed.One of the parties was underage.The terms are impossible to meet.The agreement restricts a party's right.
Frustration of purpose; Completion of the contract; or. Termination by agreement or by a provision in the contract.
The letter should include the following key points:The purpose of the contract.The contract date.The reason for terminating the contract.Any termination obligations.The date of the letter.
