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 the 'Agreement') is made and entered into on this {{day}} day of {{month}}, {{year}},

BETWEEN:

{{Seller_Company_Name}}, a company duly registered and incorporated in accordance with the laws of {{country}}, with its principal place of business at {{seller_address}} (hereinafter referred to as the 'Seller');

AND

{{Buyer_Company_Name}}, a company/individual duly registered/residing in accordance with the laws of {{country}}, with its principal place of business/residence at {{buyer_address}} (hereinafter referred to as the 'Buyer').

Collectively referred to as 'the Parties'.

RECITALS

WHEREAS, on or about {{original_contract_date}}, the Parties entered into a certain Contract of Sale (hereinafter referred to as the 'Original Contract') for the sale of {{goods_or_property_description}} (hereinafter referred to as the 'Subject Matter'); and

WHEREAS, the Parties now mutually desire to rescind the Original Contract and to be released from all obligations and liabilities arising thereunder.

AGREEMENT TO RESCIND

Now, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the Parties hereto agree as follows:

1. Rescission of Original Contract: The Parties hereby mutually agree to rescind, cancel, and terminate the Original Contract in its entirety, effective as of the date of this Agreement.

2. Release from Obligations: Upon the execution of this Agreement, both the Seller and the Buyer shall be released and discharged from all duties, obligations, rights, and liabilities arising from or related to the Original Contract, with the exception of any obligations expressly stated to survive rescission in this Agreement.

3. Return of Subject Matter: The Buyer agrees to return the Subject Matter to the Seller in its original condition (or as otherwise mutually agreed upon) by no later than {{return_date}}. All costs associated with the return of the Subject Matter shall be borne by {{party_responsible_for_return_costs}}.

4. Return of Payments: The Seller agrees to return all payments received from the Buyer under the Original Contract, totaling {{amount_to_be_returned}}, to the Buyer by no later than {{refund_date}}. This refund shall be made via {{payment_method_for_refund}}.

MUTUAL RELEASE

The Parties hereby mutually release and forever discharge each other, their respective heirs, executors, administrators, successors, and assigns, from any and all claims, demands, damages, actions, or causes of action, of whatever kind or nature, whether known or unknown, foreseen or unforeseen, arising out of or in connection with the Original Contract and its rescission, save for any breaches of this Rescission Agreement itself.

GOVERNING LAW

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

ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Parties with respect to the rescission of the Original Contract and supersedes all prior discussions, negotiations, and agreements, whether oral or written, relating thereto.

AMENDMENT

No amendment, modification, or waiver of any provision of this Agreement shall be effective unless in writing and signed by both Parties hereto.

COUNTERPARTS

This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

SIGNATURES

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

_____________________________

For and on behalf of {{Seller_Company_Name}}

Name: {{Seller_Signatory_Name}}

Capacity: {{Seller_Signatory_Capacity}}

Date: _______________________

_____________________________

For and on behalf of {{Buyer_Company_Name}} / {{Buyer_Name}}

Name: {{Buyer_Signatory_Name}}

Capacity: {{Buyer_Signatory_Capacity}}

Date: _______________________

WITNESSES:

1. Name: _________________________

Signature: ______________________

Date: _________________________

2. Name: _________________________

Signature: ______________________

Date: _________________________