The Agency Cancellation Letter is a crucial document used in Singapore when a principal wishes to formally terminate their relationship with an appointed agent. It serves as official documentation of the termination decision and ensures compliance with Singapore's legal requirements for agency termination. The document should be used when either party wishes to end the agency relationship in accordance with the terms of the original agreement. It typically includes details about notice periods, final settlements, and transitional arrangements. Under Singapore law, proper documentation of agency termination is essential to avoid future disputes and ensure clear closure of the business relationship.
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1. Identification of Parties: Clear identification of both the principal and agent with full legal names and addresses
2. Reference to Original Agreement: Details of the original agency agreement including date, purpose, and any reference numbers
3. Notice of Cancellation: Clear statement of intent to terminate the agency relationship
4. Effective Date: Specific date when the cancellation takes effect
5. Notice Period Compliance: Confirmation that required notice period is being observed as per original agreement
1. Reason for Cancellation: Explanation of termination reasons, included when professionally appropriate or legally required
2. Transition Arrangements: Details of handover process and timeline, used when ongoing business needs to be transferred
3. Outstanding Payments: Details of any final payments or commission settlements pending
4. Post-Termination Obligations: Reference to continuing obligations such as confidentiality or non-compete provisions
1. Statement of Account: Final accounting of commissions or payments due between parties
2. Asset Return Schedule: Detailed list of items, materials, or documents to be returned to principal
3. Client Transfer List: Schedule of clients to be transferred or retained, including relevant contact details and ongoing matters
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