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The Premature Termination of Contract document is essential in UAE business operations when parties need to formally end their contractual relationships before the originally agreed termination date. This document is used when both parties mutually agree to terminate their existing contract early, or when one party exercises their contractual right to early termination. It must comply with UAE Civil Code requirements and any sector-specific regulations. The document typically includes termination effective date, settlement terms, mutual releases, and provisions for handling outstanding obligations. It's particularly important in the UAE context where formal documentation of contract termination is crucial for legal certainty and regulatory compliance. The document should be drafted carefully to ensure it addresses all UAE legal requirements for valid contract termination, including proper notice periods and settlement calculations as per UAE law.

1. Parties: Full legal names and details of all contracting parties

2. Background: Reference to original contract, its date, and brief description of circumstances leading to early termination

3. Definitions: Key terms used in the termination agreement including 'Effective Date', 'Original Contract', 'Settlement Amount' if applicable

4. Termination Declaration: Clear statement of mutual agreement to terminate the Original Contract

5. Effective Date: Specific date when the termination becomes effective

6. Outstanding Obligations: Statement of any remaining obligations, payments, or services to be completed before termination

7. Settlement Terms: Details of any financial settlement, including amounts, payment terms, and deadlines

8. Release and Waiver: Mutual release from future obligations and waiver of claims related to the Original Contract

9. Return of Property: Requirements for returning any company property, documents, or confidential information

10. Surviving Obligations: List of any contractual obligations that survive termination (e.g., confidentiality, non-compete)

11. Governing Law: Confirmation that UAE law governs the termination agreement

12. Execution: Signature blocks and execution requirements