������Ƶ

The Contract Termination For Convenience document is essential in Saudi Arabian business operations where parties need to end contractual relationships without citing specific breaches or causes. This document type is particularly relevant in commercial, government, and private sector contracts where flexibility in contract termination is required. It must comply with Saudi Arabian law, including Sharia principles and various Royal Decrees, while providing clear mechanisms for termination, compensation, and post-termination obligations. The document typically includes specific provisions for notice periods, payment calculations, and property return, ensuring both parties' rights are protected under Saudi jurisdiction. It's commonly used in long-term service contracts, construction projects, and government procurement agreements where changing circumstances might necessitate early termination.

1. Parties: Identification of the contracting parties, including full legal names, addresses, and registration details

2. Background: Reference to the original contract being terminated, its date, and purpose

3. Definitions: Key terms used in the termination document, including reference to defined terms in the original contract

4. Termination Notice: Formal declaration of termination under the convenience clause, citing the relevant contract provision

5. Effective Date: Specification of when the termination becomes effective, including any notice period requirements

6. Payment Terms: Details of any termination payments, including compensation for work completed and termination costs

7. Return of Property: Requirements for returning any materials, equipment, or confidential information

8. Surviving Provisions: Identification of contract provisions that continue after termination

9. Mutual Release: Release of claims and obligations between parties, subject to specified exceptions

10. Governing Law: Confirmation of Saudi Arabian law as governing law and relevant jurisdiction

11. Execution: Signature blocks and formal execution requirements under Saudi law