Document background
The Mutual Agreement Termination Letter is used when parties to an existing contract mutually agree to end their contractual relationship before its natural expiration. This document is crucial in Singapore's legal framework as it provides clear evidence of the parties' agreement to terminate, helping prevent future disputes. It typically includes reference to the original agreement, termination date, settlement terms, and releases. The document should be drafted in compliance with Singapore contract law and any relevant industry-specific regulations. It's particularly important for maintaining clear business records and ensuring all parties understand their rights and obligations post-termination.
