How to Write a Contract Termination Letter?
• The names and other specifications of the other parties, who were party to the given contract. • The terms and conditions of the contract that empower the parties to terminate the contract. • In the case where the termination takes place at the cost of monetary penalty, mention the mode of payment that you plan to use. • In the case of many contracts, like an employment contract, it is essential to mention the code of the letter, by which the notice period of the termination of the contract was communicated. Sample Contract Termination Letter Dear Sir, This letter is in the reference of the contract that was signed on 28th of May, 2009. We wish to inform you that according to the Clause 7 of the contract mentioned above, we wish to terminate the contract, as we shall be unable to meet the performance stated in the contract. We are very sorry for the inconvenience caused. According to the Clause 8, we shall be forwarding you the monetary compensation, which shall be deposited in your
