Expiration of Service Contract
EXPIRATION OF SERVICE CONTRACT
1. PURPOSE OF THE CONTRACT
This Expiration of Service Contract ("Contract") is entered into on [DATE], (the "Effective Date") by and between [Your Company Name], located at [Your Company Address] (hereinafter referred to as the "Service Provider") and [Recipient's Name], located at [Recipient's Address] (hereinafter referred to as the "Service Recipient") (collectively referred to as the "Parties").
1.1 Background
The purpose of this Contract is to establish the terms and conditions governing the termination or ending of services provided by the Provider to the Recipient. It outlines the rights, responsibilities, and obligations of both Parties upon the expiration of the service contract.
2. TERM OF CONTRACT
The Contract will commence on [Start Date] and will continue until [Expiration Date] unless earlier terminated under the provisions herein. Both Parties agree to adhere to the terms specified in this Contract throughout the agreed-upon term.
2.1 Commencement
The Contract shall be deemed to commence and therefore be in effect starting from the date that is specifically mentioned in this document, which is identified as the Start Date.
2.2 Duration
As per the terms and conditions stipulated in this Contract, it is to be understood that the Contract shall retain its effectivity and remain in full force until the date of its Expiration. However, if situations necessitate earlier termination, that can indeed occur as outlined in this very Contract.
3. OBLIGATIONS UPON EXPIRATION
Upon the expiration of this Contract, all rights and obligations of the Parties under this Contract will cease, except for those rights and obligations that are required to continue by their nature. This includes obligations related to indemnification, limitation of liability, and confidentiality, which shall survive the termination of the service contract.
3.1 Conclusion of Services
The Provider agrees to conclude any outstanding services in a timely and professional manner, providing necessary documentation or deliverables to the Recipient as per the terms of the contract.
3.2 Payment Obligations
The Recipient agrees to fulfill any outstanding payment obligations and return any property or materials belonging to the Provider upon expiration of the Contract.
4. RIGHTS AND RESPONSIBILITIES
During the term of the Contract, the Parties shall fulfill their respective obligations diligently and in good faith. This includes but is not limited to:
4.1 Provider's Responsibilities
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Providing the agreed-upon services in a timely and satisfactory manner.
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Maintaining confidentiality and security of any sensitive information shared by the Recipient.
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Adhering to applicable laws and regulations governing the services provided.
4.2 Recipient's Responsibilities
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Providing necessary cooperation and information required for the provision of services.
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Timely payment of fees or charges as outlined in the Contract.
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Notifying the Provider in advance of any changes or modifications required during the term of the contract.
5. LIMITATION OF LIABILITY
In no event shall either Party be liable for any indirect, consequential, incidental, special, exemplary, or punitive damages, or damages for loss of profits, revenue, business, savings, data, use, or cost of substitute procurement, even if such Party has been advised of the possibility of such damages. The total liability of either Party under this Contract shall not exceed the total fees paid or payable under this Contract.
5.1 Indirect Damages
Neither Party shall be liable for indirect damages arising from the expiration of this Contract.
6. CONFIDENTIAL INFORMATION
Both Parties acknowledge that during their engagement, confidential information may be exchanged. Any confidential information received by either Party from the other Party will remain confidential and will not be disclosed to any third party without the prior written consent of the disclosing Party, except as required by law.
6.1 Non-Disclosure Contract
The Parties involved may contemplate the idea of signing a completely separate Non-Disclosure Contract. This would provide an additional layer of security to further protect any confidential information that might otherwise be exposed during providing services to the Parties. The signing of this Non-Disclosure Contract ensures that any private or sensitive information doesn't fall into the wrong hands during service provision, thereby bolstering the security and confidentiality of involved parties.
7. GOVERNING LAW AND DISPUTE RESOLUTION
This Contract shall be governed by and construed under the laws of [Governing Jurisdiction]. Any disputes arising out of or in connection with this Contract shall be settled through friendly negotiation in good faith. If the Parties are unable to resolve the dispute through negotiation, it shall be submitted to [Specified Court or Dispute Resolution Body] for final resolution.
7.1 Negotiation Process
The Parties involved in this Contract have mutually agreed and committed themselves to participate actively in a negotiation process. They will conduct these negotiations sincerely and honestly in an attempt to deal with and settle any disagreements, conflicts, or matters of contention that might surface or occur during this Contract's duration.
8. MISCELLANEOUS
Should any provision of this Contract be declared void or unenforceable by a court of competent jurisdiction, the remaining provisions shall remain in full force and effect. This Contract constitutes the entire contract between the Parties regarding the subject matter herein and supersedes all prior contracts, understandings, or representations, whether written or oral.
IN WITNESS WHEREOF, the parties have executed this Contract as of the date first above written.
Name: [Your Name]
Company Name: [Your Company Name]
Name: [Recipient's Name]
