As a party involved in a contract, I want a clear and structured process for the termination of the agreement so that all participants can understand the circumstances and procedures under which a contract can be ended.
Acceptance Criteria
[ ] The contract must stipulate the conditions under which it may be terminated.
[ ] Both parties shall be given a notice period before the contract is terminated unless terminated for cause.
[ ] Provisions for termination for cause must be defined and mutually agreed upon by both parties.
[ ] The contract must detail any financial settlements or penalties involved in the termination.
[ ] The contract must outline the procedure for handling disputes during the termination process.
[ ] The rights and obligations of both parties regarding confidentiality and non-disclosure must survive the termination of the contract.
sequenceDiagram
participant PartyA as Party A
participant PartyB as Party B
participant Contract
PartyA->>Contract: Propose termination under agreed conditions
Contract->>PartyB: Notify termination and commence notice period
PartyB->>Contract: Acknowledge termination notice
Contract-->>PartyA: Confirm termination process initiation
Termination Clause
As a party involved in a contract, I want a clear and structured process for the termination of the agreement so that all participants can understand the circumstances and procedures under which a contract can be ended.
Acceptance Criteria