Agreement to Rescind Contract of Sale

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

AGREEMENT TO RESCIND CONTRACT OF SALE

This Agreement to Rescind Contract of Sale (hereinafter referred to as "Agreement") is made and entered into on this {{day}} day of {{month}}, {{year}},

BETWEEN:

{{seller_company_name}}, a company duly incorporated under the laws of {{seller_jurisdiction}}, with its principal place of business at {{seller_address}} (hereinafter referred to as "the Seller");

AND

{{buyer_company_name}}, a company duly incorporated under the laws of {{buyer_jurisdiction}}, with its principal place of business at {{buyer_address}} (hereinafter referred to as "the Buyer").

The Seller and Buyer are hereinafter collectively referred to as “the Parties” and individually as “a Party”.

RECITALS

WHEREAS, the Parties entered into a Contract of Sale dated {{original_contract_date}} (hereinafter referred to as “the Original Contract”) for the sale and purchase of {{goods_or_property_description}} (hereinafter referred to as “the Goods/Property”);

WHEREAS, both Parties desire to mutually agree to rescind and terminate the Original Contract, thereby releasing each other from their respective obligations and restoring their pre-contractual positions.

AGREEMENT TO RESCIND

1.1. The Parties hereby mutually agree to rescind, cancel, and terminate the Original Contract with immediate effect from the date of this Agreement.

1.2. Upon the execution of this Agreement, the Original Contract shall be deemed null and void, and all rights, obligations, and liabilities of the Parties arising thereunder shall cease to exist, save as expressly provided herein.

RETURN OF GOODS/PROPERTY AND FUNDS

2.1. The Buyer agrees to return the Goods/Property to the Seller, in their original condition and free from any encumbrances, on or before {{return_date}}.

2.2. The Seller agrees to refund to the Buyer the full purchase price of {{currency}} {{amount}} paid under the Original Contract, less any agreed deductions, on or before {{refund_date}}.

2.3. Any costs associated with the return of the Goods/Property, including transportation and insurance, shall be borne by {{party_responsible_for_costs}}.

RELEASE AND DISCHARGE

3.1. In consideration of the mutual agreements contained herein, each Party hereby releases and forever discharges the other Party, its officers, directors, employees, agents, and successors from any and all claims, demands, actions, causes of action, liabilities, and expenses, whether known or unknown, arising out of or in connection with the Original Contract.

3.2. This release and discharge shall not apply to claims arising from any breach of this Agreement.

CONFIDENTIALITY

4.1. The Parties agree to keep the terms and conditions of this Agreement, and the fact that they have rescinded the Original Contract, confidential and shall not disclose such information to any third party, except as required by law or with the prior written consent of the other Party.

GOVERNING LAW AND DISPUTE RESOLUTION

5.1. This Agreement shall be governed by and construed in accordance with the laws of {{governing_law_jurisdiction}}.

5.2. Any dispute, controversy or claim arising out of or relating to this Agreement, including the breach, termination or validity thereof, shall be resolved through good faith negotiations between the Parties. Should negotiations fail, the Parties agree to first attempt to resolve the dispute through mediation in {{mediation_location}}.

5.3. If mediation is unsuccessful, the dispute shall be submitted to arbitration in accordance with the rules of the {{arbitration_institution}} in {{arbitration_location}}.

ENTIRE AGREEMENT

6.1. This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior discussions, negotiations, and agreements, whether oral or written, relating thereto.

6.2. No modification or amendment of this Agreement shall be effective unless in writing and signed by both Parties.

SIGNATURES

IN WITNESS WHEREOF, the Parties have executed this Agreement on the date first above written.

FOR THE SELLER:

_____________________________

Name: {{seller_signatory_name}}

Title: {{seller_signatory_title}}

Date: {{seller_signature_date}}

FOR THE BUYER:

_____________________________

Name: {{buyer_signatory_name}}

Title: {{buyer_signatory_title}}

Date: {{buyer_signature_date}}