The most accurate and standard contract liquidation minutes form in 2024

Contract liquidation minutes are documents that represent the end of all types of contracts. With this record, the parties to the contract will have a solid basis to prove that the contract has ended and the parties have ended their rights and obligations to each other. Below, Long Phan will guide you on how to prepare and provide you with the most accurate and standard Contract liquidation minutes form in 2024. We invite you to follow the following article.

When can one party cancel the Contract and not have to compensate the other party for damages?

Pursuant to Clause 1, Article 423, Clause 1, Article 424, Article 425, Article 426 of the Civil Code 2015, cases of contract cancellation that do not require compensation include:

• The other party’s violation of the Contract is the cancellation condition that the parties agreed upon;
• The other party seriously violates the Contract obligations;
• Due to delay in performing obligations;
• Due to inability to perform;
• In case property is lost or damaged;
• Other cases prescribed by law.

In addition, Clause 2 of this Article also explains what a serious violation is. It is the failure to properly perform one party’s obligations to the extent that the other party fails to achieve the purpose of entering into the Contract.

An extremely important thing to note when canceling a Contract is that the party canceling the Contract must immediately notify the other party of the cancellation, otherwise the canceling party must compensate for damages if this failure to notify causes damage. harm the other party, according to Clause 3, Article 423 of the Civil Code 2015.

What are the legal consequences when one party unilaterally cancels the Contract?

Pursuant to Article 427 of the Civil Code 2015, the consequences when one party unilaterally cancels the Contract are:

• When the Contract is canceled, the Contract is not effective from the time of signing, the parties do not have to perform the agreed obligations, except for the agreement on penalties for violations, compensation for damages and agreement on dispute resolution. accept.
• The parties must return to each other what they have received after deducting reasonable costs in implementing the Contract and costs for preserving and developing assets.
• The party suffering damage due to the other party’s breach of obligations shall be compensated.
• The settlement of consequences of contract cancellation related to moral rights is regulated by this Code and other relevant laws.
• In case the contract cancellation has no basis as prescribed in Articles 423, 424, 425 and 426 of this Code, the party canceling the Contract is determined to be the party violating its obligations and must carry out civil liability. due to failure to properly perform obligations according to the provisions of this Code and other relevant laws.

Note when making a contract liquidation record

Currently, in the Civil Code there are no detailed regulations on contract liquidation, but this term is mentioned in the Commercial Law. However, from the provisions of Clause 2, Article 181 and Clause 2, Article 231 of the Commercial Law 2005, Contract liquidation is understood as the parties completely stopping implementing the Contract, terminating their rights and obligations to each other. Therefore, the Civil Code 2015 also stipulates a term with a similar meaning, which is contract termination specified in Article 422.

Thus, some notes when preparing a Contract liquidation record to terminate the Contract will be:

• Comply with regulations on content and form when preparing contract liquidation minutes;
• Regarding the liquidation content, it is necessary to pay attention to the provisions in the Contract. In case of not being thoroughly agreed, you must look at the Civil Code and related documents;
• If the liquidation of the Contract is based on an agreement between both parties, there must be consensus. If it is a case of unilateral termination of the Contract, the other party must be notified immediately;
• In case the liquidation of the Contract involves a third party, the third party must be notified and measures must be taken to ensure their rights, if any.
• When making a contract liquidation record, it should clearly state that what has been received/borrowed has been returned to each other to avoid future disputes.

Latest standard contract liquidation minutes form

Currently, the issue of making a contract liquidation record belongs to the agreement of the two parties, not a mandatory obligation. Therefore, the contract liquidation minutes form is also drawn up by agreement between the two parties. Below, Long Phan will provide the latest standard Contract liquidation minutes form in 2024. Please see the sample at the link below.

>>> See sample contract liquidation minutes here.

Consulting services, Contract consulting support and providing the most standard liquidation record form

During the process of establishing the contract liquidation record, Long Phan knows there will be cases where you encounter difficulties and need advice and support. Therefore, if you have any questions that need to be answered, please contact Long Phan for support.  We will provide you with a full service package including the following activities:

• Answer questions about issues, stay abreast of the situation you are experiencing;
• Provide the latest, most meticulously prepared minutes template as well as help prepare complete documents to serve the signing of the Contract liquidation minutes;
• Negotiate on behalf of customers with partners and competent state agencies;
• Instruct customers to fill in information and sign records and prevent risks arising when liquidating the contract;

If you need to use consulting services on contract liquidation minutes at Long Phan, please call the hotline number. 0906735386. We are committed to helping you complete the procedure quickly, according to regulations and effectively.