At what point the contract is terminated

The contract should be considered terminated on the date that the parties specify in the agreement for its dissolution. By agreement of the parties to the contract are allowed to terminate at any time, grounds for termination of the relationship in this case, the determinant does not matter. The reason for the performance of any of the counterparties with the offer on cancellation of the contract often acts as a significant violation of its terms, a significant change in the circumstances in which he was, and other factors.

If the contract conditions of the possibility of unilateral refusal to perform obligations by one of the contractors, the contract is terminated at the time specified by this condition. Typically, this time is associated with a direction notice by either party to the contract to the other party. In the notification of the intention to refuse performance of obligations under the contract unilaterally in accordance with a specific provision of this agreement.

Upon termination of the contract in court the termination of the obligations is the entry of the judicial act, which terminated the contract in force. The court decision shall enter into force on the expiry of a month period from the date of their adoption in full, if a party claimed not appeal. If the grievance is still served, the date of entry into force of the judicial act shall be the date of the decision of the appeal instance (if this instance has upheld the decision on termination of the contract).

There are additional responsibilities placed on the parties to the contract upon its dissolution, does not typically affect the time of such termination. So, when unilateral withdrawal from the contract counterparty speaking on this initiative, often be obliged to compensate the other party for the damages caused by that failure. In case of untimely performance of this duty, the contract will still be terminated, however, another party will have the right in court to require an obligor to the payment of cash or the provision of certain property.

The agreement on the termination of the contract between the parties can be realized via the exchange of documents. In this case the contract is terminated from the date defined in the proposal of the contractor, had taken the initiative on the termination of the relationship. Prerequisite for this is obtaining the response letter from the other party to the contract with the explicit consent to its termination in the proposed term.