The preliminary contract is concluded as a result of the agreement of the parties and confirms their intentions in the future to sign the main contract containing the final terms of the transaction. In essence, it is an obligation to conclude a full-fledged contract. It is impossible to terminate it unilaterally. But such an obligation can be terminated by other means, based on the terms of the agreement stipulated in it.
Instructions
Step 1
To begin with, carefully study the document, it should contain a clause describing the procedure and conditions for its termination. In the absence of such a clause, one should be guided by the general rules established for the termination of this type of agreement. In this case, you need to find a good reason to terminate it. Because, using this obligation, your opponent may try to force you to conclude the main contract by going to the courts.
Step 2
First of all, check the fulfillment of the terms of the agreement fixed in the contract. Violation of the rights and obligations of the parties or the terms of the transaction allows you to terminate the preliminary contract before its expiration without legal proceedings.
Step 3
You can also terminate this agreement, provided that the main one was not concluded after the expiration of the preliminary agreement. The validity period of the preliminary agreement must be specified therein. Otherwise, its effect is limited to one year from the date of signing by the parties of the document.
Step 4
Now pay attention to the design of the document. There is no special unified form of a preliminary agreement; it is drawn up based on the specifics of drawing up the main agreement. At the same time, its incorrect registration may serve as a basis for invalidating such an agreement.
Step 5
Having received the grounds for termination of the preliminary contract, notify about the solution of this issue.
