To create a Termination Agreement and effectively terminate a contract, you and the other party must agree to end the contract. Using LawDepot’s Termination Agreement template, you can select the province of the original contract. Because different provinces have different governing laws and requirements, we customize each document for your jurisdiction. Next, provide the names and mailing addresses of each party involved. You will also need to provide details from the original contract. Include the date the contract was signed and the purpose of the original contract. Select a termination date after which the contract will no longer be in effect. You can choose today, the signing date of the termination agreement, or a date in the future. If you’re not sure about the date, select “Unsure” and fill it in later. The template will prompt you to state if either party is providing any compensation as part of the Termination Agreement. If so, select the party providing compensation and state the compensation they are providing. To finalize your document, you can select the date the involved parties will sign the agreement. You should also determine if you require witnesses to sign the agreement.