Words can often be neglected, gone against or even turned down at any point of time if there is no statement recorded and signed on a piece of paper. There have been ample cases where you will see that people did not admit what they said before. As for example, during my grandfather’s childhood, properties had no such legal documents and plots were divided as per sayings. One of his cousins rejected the division and there occurred a conflict within the family for it. To eradicate such confusion and conflicts, two or more parties sign a legal document and come to an agreement. The letter of intent is that document which states the conditions of the agreement and also records the signature of the parties. No one at any point of time can neglect or go against the terms stated in the letter once the signature is done.
How to terminate a letter of intent?Sometimes one can decide to not abide by the terms as stated in the letter of intent or can change his or her mind. In that case, the person has to provide a termination letter to the other party and parties and state:
Termination date
Reason for terminating
The next steps that the other party needs to follow
Termination letter for an employee also does happen and in that case the letter must state how the employee can collect his salary or other pending amount of money.
Termination of letter of intent sample A sample for terminating an agreementFrom,
Sender Address_________
Date (Mention the Date )
To,
Receiver Address______
Subject: Termination of the service agreement
By this letter hereby it is to inform you that we are terminating the agreement with you.
State the reason:
Date of the termination:.
A line conclusion.
Thanking you,
Yours sincerely,
Your name/ Name of the company
A sample for terminating an employee*[Date]
Dear [Employee name],
This letter is to formally notify you that your employment with [name of the company] is being terminated with effect from [date of termination].
State the reasons:
[List the compensation and other benefits available to the employee]
Date from which the termination will take effect.
Please contact [name, email and phone number of the contact person] if you have any questions about anything.
Sincerely,
[Your Signature]
These are some basic examples that I hope will be able to help you.
Contact NoBroker Legal Assistance and get the possible answers to your queries
Read More:
What Is A Letter Of Intent?
Your Feedback Matters! How was this Answer?
Shifting, House?
✔
Lowest Price Quote✔
Safe Relocation✔
Professional Labour✔
Timely Pickup & Delivery
Intercity Shifting-Upto 25% Off
Check Prices
Intracity Shifting-Upto 25% Off
Check Prices
City Tempo-Upto 50% Off
Book Now
How to Terminate a Letter of Intent?
Kaushik
2207 Views
1
3 Year
2022-05-16T20:20:25+00:00 2022-05-27T18:00:38+00:00Comment
Share