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The Notice of Non-Renewal of Contract is a written notice of a party's refusal to renew their contract, which permanently terminating their contractual obligations with the other party to the contract. This document is used in situations where parties have entered a contract that renews automatically and can only be terminated by a formal notice of non-renewal.
Some contracts may or may not have a fixed termination date, but are set to automatically renew except it is terminated by either of the parties to the contract. Hence, sending this notice is the only way to ensure that the contract will not be renewed.
This document may be used to cancel the renewal of any contract that renews automatically regardless of the nature of the agreement. It includes Service Agreement, Retainer Agreement, Equipment Lease Agreement, Sale of Goods Agreement, Joint Venture Agreement, and the Commercial Lease Agreement.
How to use this document
This document can be used in situations where a contract is set to renew automatically unless it is cancelled either of the parties to the agreement. Consequently, a party to such agreement can use this document if they do not want to renew the contract.
Since the terms and conditions of every contract differ, before using this document, the party should review their agreement first to ascertain what they 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 underlying contract.
After completing this document, the party sending the letter should sign the letter, deliver it to the recipient and keep a copy of the letter 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. Therefore, the general rules of contract apply to this document.
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