Notice Of Termination
How can a notice of termination be helpful?
It has become a common knowledge that while getting into a deal of any kind, one should do the proper paperwork. It will help you settle any conflict with the other party in the future. But what most people do not know that paperwork is also essential for the termination of a deal. When you are about to end a deal due to some reason, it is always helpful to first notify the other party through a notice. For instance, if you want your tenants to leave your property because they did not abide by the terms of the deal or because the duration of the deal has ended, you should send them a notice with the details. It should outline the reason of termination and what the other party is expected to do in how much time. This is not just for the information but as a proof that the tenants were notified for the termination on time.
Another situation where this notice is essential is in the case of an independent contractor. If you had hired someone for a particular task or a job, there will certain terms of the deal and also the duration for which it will last. In case the terms have been violated by the contractor or the duration has ended, you should notify them that you do not wish to use their services anymore. In some agreements there are even terms related to the notice of termination. You should abide by those terms.