A Cancel Letter of Intent is used when parties need to formally terminate a previously issued Letter of Intent under Singapore law. This document is particularly important in business transactions where circumstances have changed, making the original intended transaction no longer viable or desirable. The cancellation letter should reference the original LOI, clearly state the intention to cancel, specify the effective date, and address any outstanding obligations. Under Singapore's legal framework, this document ensures proper documentation of the termination and helps prevent any future misunderstandings or disputes regarding the status of the original LOI.
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1. Reference to Original LOI: Date, parties, and subject matter of the original Letter of Intent being cancelled
2. Clear Statement of Cancellation: Explicit declaration of intent to cancel the LOI, stating unequivocal termination
3. Effective Date: Specification of when the cancellation takes effect
4. Reason for Cancellation: Brief explanation of why the LOI is being cancelled (if appropriate)
5. Return of Materials: Instructions regarding the return or destruction of any confidential information or materials
1. Surviving Obligations: Reference to any obligations that survive cancellation, such as confidentiality provisions
2. Cost Settlement: Treatment of any costs incurred to date and how they will be handled
3. Future Relations: Statement about potential future business relationship between the parties
1. Original LOI: Copy of the original Letter of Intent being cancelled
2. Supporting Documentation: Any relevant correspondence or documents supporting the cancellation decision
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