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The Notice of Non-Renewal of Contract is used to indicate a party's refusal to renew a contract because of the coronavirus crisis. This document is used in situations where parties have entered an agreement that renews automatically and can only be terminated by a formal notice of non-renewal. In such cases, the party sending this letter will send this letter to end the contract.
The current global pandemic has affected people's source of income, and this will make it difficult for them to fulfill their contractual obligations. Some contracts are set to renew automatically, except it is terminated by either of the parties to the contract, and in such cases, this document should be used by a party that wants to end the agreement.
Contracts here include but are not limited to the following: Service Agreement; Retainer Agreement; Franchise Agreement; Tenancy Agreement; Equipment Lease Agreement; Sale of Goods Agreement; Joint Venture Agreement; and Commercial Lease Agreement.
How to use this document
This document can be used situation where the contracts are set to renew automatically except terminated by either of the parties to the agreement. Consequently, a party to such an agreement can use this document if they do not want to renew the contract.
The terms and conditions of every contract differ. Hence, the first step to take before using this document is to review the contract to determine what parties must do if they do not wish to continue with the contract. The next step is to complete this form by providing information about the sender of the letter, the recipient and the reason for the non-renewal.
After completing the document, it should be printed in at least two copies and signed by the party sending the letter. Thereafter, the signed copy of the letter should be sent to the recipient.
Note that this document may be sent either by letter or email. The party sending the letter should keep one copy of this document for record purposes.
This document is not subject to any specific rules or laws. However the terms and conditions of the underlying contract should apply. Also, the general rules of contract apply to this document.
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