Document background
The Termination Of Management Agreement is a crucial document used when parties wish to formally end their existing management arrangement in accordance with New Zealand law. It is typically employed when either party wishes to conclude their management relationship due to various circumstances such as completion of services, change in business direction, or mutual agreement to end the arrangement. This document is essential in the New Zealand business context as it provides legal certainty and protection for all parties by clearly defining the termination terms, final obligations, and post-termination responsibilities. It must comply with New Zealand's Contract and Commercial Law Act 2017 and other relevant legislation, while addressing specific industry requirements and commercial practices. The agreement includes comprehensive provisions for handling the transition period, settling outstanding matters, and ensuring proper handover of responsibilities, making it particularly relevant for business relationships where significant management responsibilities are being transferred or concluded.
