Document background
The Termination of Purchase Agreement is a crucial document used when parties wish to formally end their existing purchase arrangement under Swiss law. It becomes necessary in various situations, such as mutual agreement to cease business relations, material breach of contract, impossibility of performance, or changed market conditions. The document addresses key aspects required by the Swiss Code of Obligations, including clear termination provisions, financial settlements, property returns, and mutual releases. It's particularly important in commercial transactions where there may be outstanding deliveries, payments, or ongoing obligations that need to be properly resolved. The agreement provides legal certainty and protection for all parties by clearly documenting the terms of separation and helping prevent future disputes.
