Document background
The Agreement Of Sale Cancellation is a crucial document used when parties mutually agree to terminate an existing sale contract in Singapore. It provides legal certainty by documenting the cancellation terms, handling the reversal of payments or return of goods, and ensuring compliance with Singapore's legal framework, particularly the Contracts Act and Sale of Goods Act. This document is essential for risk management and clear record-keeping, especially in commercial transactions where significant values are involved or where partial performance has already occurred.
