The Construction Contract Termination Agreement is utilized when parties need to formally end their construction contract relationship in England and Wales. This document is essential when construction projects require early termination due to completion, mutual agreement, breach, or other circumstances. It incorporates provisions required by the Housing Grants, Construction and Regeneration Act 1996, addresses financial settlements, handles the transfer of materials and documentation, and includes mutual releases. The agreement protects all parties' interests while ensuring compliance with relevant construction laws and regulations.
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1. Parties: Identification and details of contracting parties
2. Background: Context of the original contract and reasons for termination
3. Definitions: Key terms used throughout the agreement
4. Termination Date: Specific date when the contract will terminate
5. Outstanding Payments: Settlement of any remaining payments or financial obligations
6. Return of Property: Arrangements for return of materials, equipment, and documents
7. Mutual Release: Release of claims between parties
1. Transitional Arrangements: Additional provisions for complex projects requiring phased termination and handover period
2. Intellectual Property Rights: Provisions governing the handling of intellectual property rights post-termination
3. Confidentiality: Ongoing confidentiality obligations after contract termination
4. Dispute Resolution: Specific procedures for resolving disputes arising after termination
1. Schedule of Outstanding Works: List of incomplete works at termination
2. Schedule of Outstanding Payments: Detailed breakdown of remaining payments
3. Schedule of Materials and Equipment: Inventory of items to be returned or transferred
4. Original Contract: Copy of the contract being terminated
5. Completion Statement: Final account and financial reconciliation
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