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A termination letter for commercial contracts is used to terminate an existing agreement or contract between two parties. It can be an employment contract or a business transaction. This letter is used for the termination of a commercial contract between two companies, between a retailer and a supplier. This letter contains the reasons for termination, important dates and information about penalties. You will be asked to cancel all our payments up to XYZ and we will also only deliver your recent orders within the specified time frame. Their depreciation services are not in accordance with the agreement we signed. By this letter, we inform you that we have reached our agreement on the ___ Our company is facing major problems due to late payments and untimed orders from your company. And that is why we want to conclude the contract with you on ______ (date of termination). I am writing this letter in connection with the contract entered into on March 30, 2015.
In accordance with Section 9.4 of the Agreement, we regret to inform you of our intention to terminate the Agreement in accordance with the stated terms. We will assign all payments and obligations due under the contract. All payments are made no later than 60 days after the termination of the contract. .
