商业合同终止协议英文

商业合同终止协议英文

ThisCommercialContractTerminationAgreement(the"Agreement")ismadeandenteredintoasof[date]byandbetween:

PartyA:

Name:[CompanyA'sfulllegalname]

Address:[CompanyA'sbusinessaddress]

ContactPerson:[Contactname]

ContactInformation:[Phonenumber/emailaddress]

PartyB:

Name:[CompanyB'sfulllegalname]

Address:[CompanyB'sbusinessaddress]

ContactPerson:[Contactname]

ContactInformation:[Phonenumber/emailaddress]

I.Recitals

1.PartyAandPartyBenteredintoa[typeoforiginalcontract](the"OriginalContract")dated[dateoforiginalcontract]forthepurposeof[describethemainpurposeoftheoriginalcontract,e.g.,providing[specificservice/product]toPartyB].

2.Dueto[reasonsfortermination,e.g.,mutualagreement,changeinbusinesscircumstances,etc.],thepartieshavedecidedtoterminatetheOriginalContractandenterintothisAgreementtogoverntheterminationprocessandresolveanyoutstandingissues.

II.DescriptionoftheSubjectMatter

1.TheOriginalContractcoveredtheprovisionof[detaileddescriptionoftheservice/product,includingquantity,qualitystandards,deliveryschedule,etc.].Forexample,ifitwasaservicecontract,itmightstate:"PartyAwastoprovideconsultingservicestoPartyBforaperiodof[numberofmonths/years],including[listspecifictasksordeliverablessuchasmarketresearchreports,strategicplanningrmendations,etc.],tobedeliveredinaccordancewiththefollowingschedule:[describethedeliveryschedule,e.g.,monthlyreports,quarterlystrategyreviews,etc.]."

2.Ifitwasaproductsalescontract,itcouldbe:"PartyAwastosupply[quantity]unitsof[productname]toPartyB,meetingthefollowingqualitystandards:[listqualityspecifications,e.g.,conformingtoISO[standardnumber],havingacertainpercentageofdefectfreeproducts,etc.],andtobedeliveredtoPartyB'sdesignatedlocationat[deliveryaddress]within[numberofdays/weeks]fromthereceiptofPartyB'spurchaseorder."

III.TerminationoftheOriginalContract

1.ThepartiesherebymutuallyagreetoterminatetheOriginalContractasof[terminationdate].

2.AllrightsandobligationsofthepartiesundertheOriginalContractshallterminatewiththeexceptionofthoserightsandobligationsthatareexpresslyprovidedtosurviveinthisAgreementorbylaw.

IV.RightsandObligationsofthePartiesuponTermination

A.PartyA'sRightsandObligations

1.Rights

PartyAshallhavetherighttoreceivepaymentforanyservicesorproductsalreadyprovidedandacceptedbyPartyBpriortotheterminationdateinaccordancewiththetermsoftheOriginalContract.

PartyAmayretainanyintellectualpropertyrightsrelatedtotheworkperformedorproductsprovidedundertheOriginalContractthatareownedbyPartyAorwerecreatedbyPartyAinthecourseofperformingthecontract,subjecttoanyconfidentialityornondisclosureobligations.

2.Obligations

PartyAshalldelivertoPartyBanyremainingdeliverablesrelatedtotheOriginalContractthatareinprogressasoftheterminationdate,totheextentpracticable.PartyAshallusereasonableeffortstopleteanddeliverthesedeliverablesinaccordancewiththequalitystandardsanddeliveryscheduleoftheOriginalContract.

PartyAshallcooperatewithPartyBtotransferanyrelevantdata,documentation,orknowledgerelatedtotheservicesorproductsprovidedundertheOriginalContract,asmaybereasonablyrequestedbyPartyB.Thiscooperationshallincludeprovidingaccesstofiles,databases,andprovidingtrainingorassistanceinunderstandingthetransferredinformation,subjecttoanyapplicableconfidentialityanddataprotectionlaws.

PartyAshallindemnifyandholdPartyBharmlessfromandagainstanyandallclaims,losses,damages,liabilities,andexpenses(includingreasonableattorneys'fees)arisingoutoforinconnectionwithPartyA'sperformanceofitsobligationsundertheOriginalContractpriortotheterminationdate,totheextentnotalreadycoveredbyinsurance.

B.PartyB'sRightsandObligations

1.Rights

PartyBshallhavetherighttoinspectanydeliverablesprovidedbyPartyAuponterminationtoensurethattheymeettherequirementsoftheOriginalContract.

PartyBmayrequestPartyAtocorrectanydefectsordeficienciesinthedeliverableswithinareasonabletimeframeaftertermination,ifsuchdefectsordeficienciesarediscovered.

2.Obligations

PartyBshallpayPartyAforanyservicesorproductsalreadyprovidedandacceptedbyPartyBpriortotheterminationdateinaccordancewiththepaymenttermsoftheOriginalContract.

PartyBshallreturntoPartyAanyproperty,equipment,ormaterialsprovidedbyPartyAundertheOriginalContractthatareinPartyB'spossessionasoftheterminationdate.PartyBshallensurethatsuchpropertyisreturnedingoodcondition,normalwearandtearexcepted.

PartyBshallindemnifyandholdPartyAharmlessfromandagainstanyandallclaims,losses,damages,liabilities,andexpenses(includingreasonableattorneys'fees)arisingoutoforinconnectionwithPartyB'suseorhandlingoftheservices,products,property,ormaterialsprovidedbyPartyAundertheOriginalContractpriortotheterminationdate,totheextentnotalreadycoveredbyinsurance.

V.PaymentandSettlement

1.Thepartiesshallconductafinalaccountingwithin[numberofdays]aftertheterminationdate.PartyBshallpaytoPartyAanyoutstandingamountowedforservicesorproductsprovidedandacceptedpriortotheterminationdatewithin[numberofdays]afterthefinalaccountingispleted.

2.Intheeventofanydisputesregardingtheamountowed,thepartiesshallnegotiateingoodfaithtoresolvetheissue.Ifthenegotiationfails,eitherpartymayreferthemattertoarbitrationorlitigationinaccordancewiththedisputeresolutionclauseofthisAgreement.

3.AnypaymentsmadebyPartyBshallbeappliedfirsttoanyoutstandingfees,thentoanyinterestorlatepaymentcharges(ifapplicable),andthentoanyotheramountsowedundertheOriginalContract.

VI.Confidentiality

1.EachpartyacknowledgesthatduringthetermoftheOriginalContractandinconnectionwiththeperformanceofthisAgreement,ithashadaccesstocertainconfidentialinformationoftheotherparty,includingbutnotlimitedtobusinessplans,customerlists,technicaldata,andfinancialinformation.

2.ThepartiesshallcontinuetobeboundbytheconfidentialityprovisionsoftheOriginalContractwithrespecttosuchconfidentialinformationforaperiodof[numberofyears]aftertheterminationdate.

3.Withoutthepriorwrittenconsentoftheotherparty,neitherpartyshalldisclose,use,orpermittheuseofanyconfidentialinformationoftheotherpartyforanypurposeotherthaninconnectionwiththeperformanceofthisAgreementorasrequiredbylaw.

VII.NonCompeteandNonSolicitation

1.NonCompete

Foraperiodof[numberofyears]aftertheterminationdate,PartyAshallnotengageinanybusinessactivitythatpetesdirectlywithPartyB'sbusinessinthe[describetherelevantbusinessarea,e.g.,thesameindustrysegment,geographicalregion,etc.].

Foraperiodof[numberofyears]aftertheterminationdate,PartyBshallnotengageinanybusinessactivitythatpetesdirectlywithPartyA'sbusinessinthe[describetherelevantbusinessarea].

2.NonSolicitation

PartyAshallnot,foraperiodof[numberofyears]aftertheterminationdate,solicitorattempttosolicitanyemployees,customers,orbusinesspartnersofPartyB.

PartyBshallnot,foraperiodof[numberofyears]aftertheterminationdate,solicitorattempttosolicitanyemployees,customers,orbusinesspartnersofPartyA.

VIII.IntellectualPropertyRights

1.EachpartyshallretainallintellectualpropertyrightsthatitownspriortotheexecutionoftheOriginalContract.

2.WithrespecttoanyintellectualpropertyrightscreatedbyeitherpartyinthecourseofperformingtheOriginalContract:

Iftheworkwascreatedasa"workforhire"undertheapplicablelaw,thepartyforwhomtheworkwascreatedshallownallintellectualpropertyrightsinsuchwork.

Iftheworkwasnotcreatedasa"workforhire",thepartiesshallnegotiateingoodfaithtodeterminetheownershipandlicensingrightsofsuchintellectualpropertyrights.Intheabsenceofanagreement,eachpartyshallhaveanonexclusive,royaltyfreelicensetousesuchintellectualpropertyrightsforthepurposeofperformingitsobligationsunderthisAgreementandforthecontinuedoperationofitsbusinessinconnectionwiththeservicesorproductsprovidedundertheOriginalContract.

Ix.GoverningLawandJurisdiction

1.ThisAgreementshallbegovernedbyandconstruedinaccordancewiththelawsof[state/country].

2.AnydisputesarisingoutoforinconnectionwiththisAgreementshallbesubjecttotheexclusivejurisdictionofthe[court/arbitrationinstitution]locatedin[location].

x.EntireAgreement

1.ThisAgreementconstitutestheentireagreementbetweenthepartieswithrespecttothesubjectmatterhereofandsupersedesallprioragreementsandunderstandings,oralorwritten,relatingtothesame.

2.Nomodification,amendment,orwaiverofanyprovisionofthisAgreementshallbeeffectiveunlessinwritingandsignedbybothparties.

xI.Severability

IfanyprovisionofthisAgreementisheldtobeinvalid,illegal,orunenforceable,thevalidity,legality,andenforceabilityoftheremainingprovisionsshallinnowayinanywaybeaffectedorimpaired.

xII.Waiver

NofailureordelayonthepartofeitherpartyinexercisinganyrightorremedyunderthisAgreementshalloperateasawaiverthereof,norshallanysingleorpartialexerciseofanyrightorremedyprecludeanyotherorfurtherexercisethereofortheexerciseofanyotherrightorremedy.

INWITNESSWHEREOF,thepartieshaveexecutedthisCommercialContractTerminationAgreementasofthedatefirstabovewritten.

PartyA(Signature):____________________

AuthorizedSignatory:____________________

Date:____________________

PartyB(Signature):____________________

AuthorizedSignatory:____________________

Date:____________________

ExplanationoftheProvisions

1.Recitals:Thissectionsetsthebackgroundfortheterminationagreement.Itdetailstheoriginalcontractbetweenthepartiesandthereasonsforitstermination.Thishelpsinunderstandingthecontextinwhichtheterminationistakingplaceandprovidesafoundationfortherestoftheagreement.

2.DescriptionoftheSubjectMatter:Clearlydefiningthesubjectmatteroftheoriginalcontractiscrucial.Itensuresthatbothpartiesareonthesamepageregardingwhatwasagreeduponinitiallyandwhatisbeingterminated.Thissectionshouldbeasdetailedaspossibletoavoidanymisunderstandingsinthefuture.

3.TerminationoftheOriginalContract:Statingthemutualagreementtoterminatetheoriginalcontractandspecifyingtheterminationdateisstraightforward.Italsoclarifiesthatwhilemostrightsandobligationsterminate,somemaycontinueaspertheagreementorlaw.

4.RightsandObligationsofthePartiesuponTermination:

PartyA'sRightsandObligations:PartyAhastherighttoreceivepaymentforpletedworkandretainrelevantintellectualpropertyrights.Itsobligationsincludedeliveringremainingdeliverables,cooperatingwithdatatransfer,andindemnifyingPartyB.Thisbalanceofrightsandobligationsensuresfairnessforbothpartiesduringtheterminationprocess.

PartyB'sRightsandObligations:PartyBcaninspectdeliverablesandrequestcorrections.Itsobligationsinvolvepayingforacceptedwork,returningproperty,andindemnifyingPartyA.Theseprovisionsprotecteachparty'sinterestsafterthecontractisterminated.

5.PaymentandSettlement:Outliningtheprocessforfinalaccounting,payment,anddisputeresolutionregardingpaymentsisessential.Itprovidesaclearframeworkforhowfinancialmatterswillbehandled,reducingthepotentialfordisputes.

6.Confidentiality:Continuingtoprotectconfidentialinformationevenafterthecontractisterminatedisimportant.Thisprovisionensuresthatsensitivebusinessinformationremainspr