Termination Of Supplier Contract Template for Singapore

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Key Requirements PROMPT example:

Termination Of Supplier Contract

"I need a Termination Of Supplier Contract to end our IT services agreement with TechCorp Solutions due to their repeated service failures, with termination effective March 1, 2025, including provisions for the return of our proprietary data and a tHRee-month transition period."

Document background
The Termination Of Supplier Contract is essential when parties need to formally end their supply relationship in Singapore. This document is typically used when either party wishes to end the arrangement early, or when both parties mutually agree to terminate. It addresses critical aspects such as final settlements, transition arrangements, and post-termination obligations, all while ensuring compliance with Singapore's legal framework, including the Contract Act and commercial laws. The document provides legal certainty and protection for both parties during the termination process.
Suggested Sections

1. Parties: Identification of contracting parties with full legal names and addresses

2. Background: Reference to original contract and reason for termination

3. Definitions: Key terms used in the termination agreement

4. Termination Date: Specific date when the contract will terminate

5. Outstanding Obligations: List of remaining duties and responsibilities of both parties

6. Payment Terms: Final settlement amounts and payment schedule

7. Mutual Release: Release of claims and liabilities between parties

Optional Sections

1. Transition Arrangements: Provisions for handover of services/goods when complex supply arrangements require transition

2. Intellectual Property Rights: Provisions dealing with handling of IP post-termination when IP was created or shared during the contract

3. Confidentiality: Ongoing confidentiality obligations when sensitive information was shared during the contract period

4. Non-Compete Clauses: Restrictions on future business activities when protecting business interests is crucial

Suggested Schedules

1. Schedule of Outstanding Payments: Detailed breakdown of final payments and calculations

2. Asset Transfer Schedule: List of assets to be returned or transferred

3. Transition Plan: Detailed timeline and responsibilities for service transition

4. Original Contract Reference: Copy or reference to the original supply contract being terminated

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

Industries

Contract Act (Cap. 53): Primary legislation governing contract formation, execution, and termination in Singapore, including principles of offer, acceptance, consideration, and breach

Unfair Contract Terms Act (Cap. 396): Legislation that regulates the use of unfair terms in contracts and limits the extent to which liability for breach of contract can be excluded

Sale of Goods Act (Cap. 393): Governs contracts relating to the sale of goods and provides statutory protection for buyers and sellers

Supply of Goods Act: Legislation governing the supply of goods, including implied terms about quality and fitness for purpose

Competition Act (Cap. 50B): Ensures fair competition in Singapore markets and may affect supplier relationships and termination conditions

UN Convention on International Sale of Goods (CISG): International treaty governing cross-border sale of goods, applicable if dealing with international suppliers

UNIDROIT Principles: International principles for commercial contracts that may be relevant for international supplier relationships

Companies Act (Cap. 50): Regulates corporate entities and their authority to enter into and terminate contracts

Arbitration Act (Cap. 10): Governs arbitration proceedings in Singapore, relevant for dispute resolution clauses in termination agreements

Mediation Act 2017: Framework for mediation proceedings in Singapore, important for alternative dispute resolution provisions

Personal Data Protection Act 2012: Regulates the collection, use, and disclosure of personal data, relevant when handling any personal information in the termination process

Consumer Protection (Fair Trading) Act: Protects consumer interests and may be relevant if the supply chain involves consumer goods or services

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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