A Terminate Agency Agreement Letter is essential when a principal wishes to formally end their relationship with an appointed agent in England and Wales. This document should be used when either party wants to terminate the agency relationship in accordance with the original agreement's terms or applicable law. It typically includes the termination date, notice period, reasons (if applicable), and post-termination obligations. The letter ensures compliance with the Commercial Agents Regulations 1993 and helps prevent future disputes by clearly documenting the termination terms.
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1. Recipient Details: Full name and address of the agent to whom the termination letter is addressed
2. Reference to Original Agreement: Date and nature of the original agency agreement being terminated
3. Termination Statement: Clear statement of intention to terminate the agreement
4. Effective Date: Specification of when the termination takes effect
5. Notice Period: Confirmation of notice period being given in accordance with the agreement and applicable laws
1. Reason for Termination: Optional explanation of why the agreement is being terminated, particularly relevant if termination is for cause
2. Outstanding Payments: Details of any final payments, commissions, or financial matters to be resolved
3. Post-Termination Obligations: Reminder of any continuing obligations, confidentiality requirements, or restrictions after termination
4. Return of Property: Instructions regarding the return of any company property, materials, or documents
1. Schedule of Outstanding Matters: Detailed list of any pending transactions or matters requiring completion
2. Financial Statement: Summary of outstanding financial matters and final payments to be made
3. Property Inventory: Comprehensive list of items to be returned to the principal
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