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The Affidavit Of Cancellation With No Financial Obligation is a crucial legal document used across Canadian jurisdictions when parties need to formally terminate an agreement while establishing a clear record that no financial obligations remain outstanding. This document is particularly valuable in situations where there's a need to prevent future disputes about contractual obligations or financial responsibilities. It must be sworn before a Commissioner of Oaths or Notary Public, making it a formal declaration under oath. The document typically includes details about the original agreement, the circumstances of cancellation, and explicit statements confirming the absence of any remaining financial commitments. It's commonly used in business transactions, service contracts, and other formal agreements where a clean and documented termination is necessary for legal certainty.

1. Introduction and Identification: Identifies the deponent, including full legal name, occupation, and address

2. Original Agreement Details: Describes the agreement being cancelled, including date, parties involved, and nature of agreement

3. Grounds for Cancellation: States the specific reasons or circumstances leading to the cancellation

4. Statement of No Financial Obligation: Clear declaration that no financial obligations exist between the parties

5. Confirmation of Notice: Details of how and when cancellation notice was provided to other party

6. Declaration of Truth: Standard affidavit declaration that the statements are true

7. Attestation: Space for signature, commissioner's stamp, and date of swearing