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The Termination of Distribution Agreement is essential when parties wish to formally end their distribution relationship in New Zealand. This document is typically used when both parties mutually agree to end their distribution arrangement, or when termination occurs according to the provisions of the original agreement. It carefully outlines the terms and conditions for ending the relationship, including crucial elements such as final settlements, inventory management, and post-termination obligations. The agreement ensures compliance with New Zealand's legal framework, particularly the Contract and Commercial Law Act 2017 and Fair Trading Act 1986, while providing a clear roadmap for both parties to wind down their business relationship professionally and legally. It's particularly important for protecting both parties' interests and preventing future disputes by clearly documenting all termination terms and transition arrangements.

1. Parties: Identifies the distributor and supplier/manufacturer, including full legal names and registered addresses

2. Background: References the original Distribution Agreement, its date, and brief context for the termination

3. Definitions: Defines key terms used in the termination agreement, including reference to definitions from the original agreement that remain relevant

4. Termination Date: Specifies the effective date of termination and any transition period

5. Mutual Agreement to Terminate: Formal statement of both parties' agreement to terminate the Distribution Agreement

6. Outstanding Obligations: Details of any unfulfilled obligations, pending orders, or payments that need to be completed

7. Return of Property: Provisions for returning any supplier property, marketing materials, or confidential information

8. Inventory Management: Handling of remaining inventory, including buy-back arrangements or sell-off periods

9. Financial Settlement: Details of final payments, reconciliation of accounts, and commission arrangements

10. Intellectual Property: Cessation of IP rights and requirements for discontinuing use of trademarks and branding

11. Confidentiality: Ongoing obligations regarding confidential information post-termination

12. Release and Waiver: Mutual release from future claims related to the Distribution Agreement

13. Governing Law: Confirmation that New Zealand law governs the termination agreement

14. Execution: Signature blocks and execution requirements