Common use of Cancellation of the Agreement Clause in Contracts

Cancellation of the Agreement. (i). In the event of failure on the part of the purchaser to fulfill the provisions of tender Conditions and agreement conditions within the time limit prescribed, the Managing Director may cancel the sale and forfeit all the amounts paid by the purchaser including the Security Deposit duly reverting / confiscating the material released from the Plantations at site. This will be informed to the purchaser through Registered letter with Acknowledgment Due.