Agreement to Rescind Contract of Sale

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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}}, by and between:

**{{Seller_Company_Name}}**, a company duly incorporated under the laws of [Country], with its principal place of business at {{Seller_Company_Address}} (hereinafter referred to as the “Seller”),

AND

**{{Buyer_Company_Name}}**, a company duly incorporated under the laws of [Country], with its principal place of business at {{Buyer_Company_Address}} (hereinafter referred to as the “Buyer”).

The Seller and the 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_services_description}} (hereinafter referred to as the “Goods/Services”);

WHEREAS, the Parties now mutually desire to rescind the Original Contract and relieve each other of their respective obligations thereunder.

MUTUAL RESCISSION

The Parties hereby agree to mutually rescind, cancel, and terminate the Original Contract with effect from the date of this Agreement. All rights, duties, and obligations of the Parties under the Original Contract shall cease to be of any force or effect, save for those clauses which by their nature are intended to survive termination, if any.

RETURN OF GOODS/REFUND OF PURCHASE PRICE

In consideration of the mutual rescission of the Original Contract, the Parties agree to the following:

a. **Return of Goods:** The Buyer shall return the Goods to the Seller in their original condition at {{return_location}} on or before {{return_date}}. The cost of returning the Goods shall be borne by {{party_responsible_for_return_cost}}.

b. **Refund of Purchase Price:** The Seller shall refund the full purchase price of {{currency}} {{amount}} to the Buyer within {{number_of_days}} days of the effective date of this Agreement, or upon successful return of the Goods, whichever is later. The refund shall be made via {{payment_method}} to {{buyer_bank_details/payment_account}}.

RELEASE AND DISCHARGE

Effective upon the execution of this Agreement, each Party hereby releases and forever discharges the other Party, its officers, directors, employees, agents, successors, and assigns, from any and all claims, demands, actions, causes of action, suits, obligations, liabilities, damages, and expenses whatsoever, whether known or unknown, foreseen or unforeseen, which arise out of or in connection with the Original Contract.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of [Country]. The Parties hereby submit to the exclusive jurisdiction of the courts of [Country] in respect of any dispute arising out of or in connection with this Agreement.

ENTIRE AGREEMENT

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

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.

**SELLER:**

_____________________________

Name: {{Seller_Signatory_Name}}

Title: {{Seller_Signatory_Title}}

**BUYER:**

_____________________________

Name: {{Buyer_Signatory_Name}}

Title: {{Buyer_Signatory_Title}}