Agreement to Rescind Contract of Sale

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Date

{{date}}

Agreement to Rescind Contract of Sale

Parties

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

**Seller:**

{{seller_company_name}} (hereinafter referred to as the "Seller"), a company duly incorporated under the laws of [Country, e.g., Nigeria/Ghana/Kenya], with its registered office at {{seller_address}}.

**Buyer:**

{{buyer_company_name}} (hereinafter referred to as the "Buyer"), a company duly incorporated under the laws of [Country, e.g., Nigeria/Ghana/Kenya], with its registered office at {{buyer_address}}.

Recitals

WHEREAS, the Seller and the Buyer entered into a Contract of Sale (hereinafter referred to as the "Original Contract") dated {{original_contract_date}} for the sale and purchase of {{goods_or_property_description}} (hereinafter referred to as the "Subject Matter"); and

WHEREAS, the parties desire to mutually rescind the Original Contract and release each other from their respective obligations thereunder; and

WHEREAS, the parties agree to the terms and conditions for such rescission as set forth herein.

Rescission of Original Contract

Effective immediately upon the signing of this Rescission Agreement, the Original Contract dated {{original_contract_date}} is hereby mutually rescinded, cancelled, and declared null and void. All rights, duties, and obligations of the Seller and the Buyer arising under the Original Contract are hereby extinguished.

Return of Payments and Property

The Seller shall return to the Buyer the sum of {{currency_symbol}}{{amount_paid}} ({{amount_paid_words}}), representing all payments made by the Buyer under the Original Contract, within {{number_of_days}} days from the effective date of this Rescission Agreement. Payment shall be made via {{payment_method}} to {{buyer_bank_account_details}}.

The Buyer shall return to the Seller {{specify_property_or_goods_to_be_returned}} in the same condition as received, reasonable wear and tear excepted, within {{number_of_days}} days from the effective date of this Rescission Agreement. The cost of return shipping/delivery shall be borne by {{party_bearing_cost}}.

Release and Discharge

Upon the execution of this Rescission Agreement and the completion of the actions set forth in Section 7, 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, liabilities, and damages whatsoever, whether known or unknown, foreseen or unforeseen, arising out of or in connection with the Original Contract.

Governing Law

This Rescission Agreement shall be governed by and construed in accordance with the laws of [Country, e.g., Nigeria/Ghana/Kenya].

Entire Agreement

This Rescission 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 written or oral.

Signature Block

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

**FOR THE SELLER:**

___________________________

Name: {{seller_signatory_name}}

Title: {{seller_signatory_title}}

Company: {{seller_company_name}}

**FOR THE BUYER:**

___________________________

Name: {{buyer_signatory_name}}

Title: {{buyer_signatory_title}}

Company: {{buyer_company_name}}

**WITNESSES:**

1. ___________________________

Name: {{witness_1_name}}

Address: {{witness_1_address}}

2. ___________________________

Name: {{witness_2_name}}

Address: {{witness_2_address}}