Mutual Termination Of Construction Contract Template for Malaysia

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Key Requirements PROMPT example:

Mutual Termination Of Construction Contract

"I need a Mutual Termination Of Construction Contract for a partially completed shopping mall project in Kuala Lumpur, where both parties have agreed to terminate due to funding constraints, with termination to be effective March 15, 2025, and including provisions for the preservation of completed works."

Document background

The Mutual Termination of Construction Contract is a crucial document used when both parties to a Malaysian construction contract agree to end their contractual relationship before the natural completion of the project. This document is essential when circumstances such as project viability changes, funding issues, or strategic realignments necessitate an early but amicable conclusion to the construction project. It must comply with Malaysian construction law, including CIDB regulations and the Contracts Act 1950, while addressing practical aspects such as site handover, material disposal, and final accounts. The agreement protects both parties' interests by clearly defining the termination terms, outstanding obligations, and mutual releases, helping prevent future disputes and ensuring a clean break in the contractual relationship.

Suggested Sections

1. Parties: Details of the employer/principal and contractor, including registration numbers and addresses

2. Background: Information about the original contract, project details, and mutual decision to terminate

3. Definitions: Definitions of key terms used in the termination agreement

4. Effective Date of Termination: Clear statement of when the termination takes effect

5. Outstanding Works and Payments: Details of any incomplete works and pending payments

6. Final Account Settlement: Process and terms for final payment calculation and settlement

7. Release and Discharge: Mutual release from future obligations under the original contract

8. Return of Materials and Documents: Provisions for handling construction materials, equipment, and project documents

9. Site Handover: Process and timeline for handover of the construction site

10. Confidentiality: Obligations regarding confidential information post-termination

11. Governing Law: Confirmation of Malaysian law as governing law

12. Execution: Signature blocks and execution formalities

Optional Sections

1. Retention of Rights: Used when certain rights need to be preserved post-termination

2. Insurance and Bonds: Include when there are outstanding insurance claims or performance bonds to be addressed

3. Dispute Resolution: Include when specific dispute resolution mechanisms are needed for post-termination issues

4. Employee Matters: Include when there are significant workforce considerations to be addressed

5. Intellectual Property Rights: Include when there are design rights or other IP matters to be resolved

6. Third Party Rights: Include when there are subcontractors or suppliers whose rights need to be addressed

7. Tax Matters: Include when there are specific tax implications to be addressed

Suggested Schedules

1. Schedule 1 - Original Contract Details: Copy or summary of the original contract details and amendments

2. Schedule 2 - Outstanding Works Schedule: Detailed list of incomplete works and their status

3. Schedule 3 - Final Account Statement: Detailed breakdown of final account calculations

4. Schedule 4 - Asset Register: List of materials, equipment and documents to be returned or transferred

5. Schedule 5 - Handover Checklist: Detailed checklist for site handover process

6. Appendix A - Form of Release: Standard form for mutual release and discharge

7. Appendix B - Required Notices: Copies of notices required under Malaysian law or the original contract

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Commercial Construction

Residential Development

Industrial Construction

Infrastructure Development

Government/Public Works

Healthcare Construction

Education Construction

Retail Development

Hospitality Construction

Transportation Infrastructure

Relevant Teams

Legal

Construction

Project Management

Commercial

Finance

Operations

Procurement

Risk Management

Compliance

Technical Services

Relevant Roles

Project Director

Construction Manager

Contract Administrator

Legal Counsel

Project Manager

Quantity Surveyor

Site Manager

Commercial Director

Risk Manager

Procurement Manager

Finance Director

Chief Executive Officer

Operations Director

Technical Director

Compliance Officer

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