Notice of Termination of Agency
Notice of Termination of Agency
REGD. POST WITH A/D.
(Name & Address of the Agent)
Re: Notice of termination of the Agency
As you are well aware, you have been acting as one of the Marketing Agents for and on our behalf in the _______ zone since ____________.
In fact, upon your express desire and you being agreed to the terms and conditions of the standard agreement for our all such category of Agents, we both entered into an Agreement dated ________, won the terms and conditions stated therein. You unequivocally agreed to abide by the terms and conditions of the said Agreement and accordingly started business with us.
As per the said Agreement you are bound to abide by certain terms and conditions as you agreed to keep the agency alive. Moreover, you are also aware of the consequences resulting from the non-compliance and/or non-observance of such terms and conditions by you, inter alia, the consequence as mentioned in the Clause No. ____ of the said Agreement.
You have been requested and/or warned several times by us verbally as well as in writing, vide our last letter dated ____ having Reference No. _______, whereby you were directed to show cause within 15 days from the receipt thereof as to why your agency should not be terminated due to non-compliance and non-observance of certain rules and regulations clearly mentioned in the said show-cause notice.
Despite receiving the said notice on _____ till date you have failed and/or neglected to reply thereto as well as to comply with the said terms and conditions, your non-compliance thereof tends to malign our business reputation as well as prejudicially hamper the interest of our Company.
Furthermore you have failed to achieve the minimum sale-target consecutively for ________ months and as such committed gross breach/default in due performance and observance of the terms and conditions of the business transactions and/or the said agreement and violated the normal business ethics. Thus the interests of the Company has been seriously thwarted and the Company has suffered a huge loss and damage due to your acts and deeds.
In the premises and as per the covenants of the said agreement, it is deemed fit and proper by and in the interest of the Company and accordingly as well as by invoking the aforesaid Clause No. _____of the said Agreement we do hereby give you notice that the aforesaid Agreement and/or the business contract between us stand determined and your Marketing agency is hereby terminated with effect from _________. After such termination, we shall not be responsible in any way for any of your activity in terms of the said Agreement whatsoever.
You are also obliged to hand over the …………….., which are the properties of the Company and you as a mere custodian holding the same in your possession on behalf of the Company. Please take further notice that you are hereby called upon to make arrangement to and hand over the said ………… to our authorized representative us within _____ days from the date of termination as aforesaid, failing which we shall be compelled and constrained to take such legal action against you as may be advised from time to time and you will be held liable for all the costs and consequences resulting therefrom.
This notice is issued without prejudice to our other rights, claims and contentions in this matter.