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The Letter of Termination of Purchase and Sale Agreement is a crucial document used in Philippine business transactions when one party needs to formally end a purchase and sale arrangement. This document is essential when circumstances require the termination of a sale contract, whether due to breach of terms, mutual agreement, or other valid reasons recognized under Philippine law. The letter must be drafted in compliance with the Civil Code of the Philippines and relevant commercial regulations, clearly stating the grounds for termination, effective date, and any resulting obligations. It serves multiple purposes: legally documenting the termination, protecting the parties' rights, outlining next steps, and potentially serving as evidence in case of future disputes. The document is particularly important in complex transactions where clear documentation of the termination process is necessary for legal and business records.

1. Letterhead and Date: Official letterhead of the terminating party and current date

2. Recipient Details: Full name and address of the other party to the agreement

3. Subject Line: Clear indication that this is a termination notice for the specific Purchase and Sale Agreement

4. Agreement Identification: Details of the original Purchase and Sale Agreement including date, parties, and subject matter

5. Termination Statement: Clear and unequivocal statement of termination

6. Grounds for Termination: Specific legal basis and factual reasons for termination

7. Effective Date: The date when the termination takes effect

8. Next Steps: Required actions from either party, including return of goods or refund procedures

9. Closing: Formal closing, signature block, and contact information