The termination procedure Clause Samples
The termination procedure clause outlines the specific steps and requirements that parties must follow to formally end their contractual relationship. Typically, this clause details how notice of termination should be given, any required notice periods, and the obligations of each party upon termination, such as returning confidential information or settling outstanding payments. Its core practical function is to ensure that both parties understand the process for ending the agreement, thereby reducing the risk of disputes and providing a clear, orderly method for contract closure.
The termination procedure. The procedure is initiated by registered letter with acknowledgement of receipt or its equivalent. In the cases referred to in points (a), (b), (d), (e), (g) and (h) of article 13.2 the Project Promoter has 30 days to submit their observations and take any measures necessary to continue to fulfil their contractual obligations. If the PO does not confirm the approval of comments, in writing, within 30 days of receiving them, the procedure for termination will continue. After sending the notification, the termination takes effect at the end of the period of notice, which shall start to run upon receipt of the notification of PO's decision to terminate the agreement. If the notification is not sent in the cases referred to in points (c), (f) and (i) of Article 13.2, termination is beginning to produce effects on the day following the date on which the decision was issued by the PO to terminate the agreement.
The termination procedure. The procedure is initiated by registered letter with acknowledgement of receipt or its equivalent. In the cases referred to in points (a), (b), (d), (e), (g) and (h) of article 12.2 the Project Promoter/ Responsible have 30 days to submit their observations and take any measures necessary to continue to fulfil their contractual obligations. If the PO does not confirm the approval of the observations, in writing, within maximum 30 days after receiving them, the procedure for termination will continue. After sending the notification, the termination takes effect at the end of the notification period, which starts to run from the date of receipt of the notification of the PO's decision to terminate the contract. If the notification is not sent in the cases referred to in points (c), (f) and (i) of article 12.2, termination is beginning to produce effects on the day following the date on which the decision was issued by the PO to terminate the contract.