Common use of Rescission of the Contract Clause in Contracts

Rescission of the Contract. 1. Each Party may rescind this Contract by a written notice addressed to the other Party. Such rescission shall become effective upon the service of such notice to the other Party. The reason for the rescission is a material breach of this Contract by the other Party or a repeated breach thereof if the other Party has already been notified of such breach and asked to duly fulfil the Contract and to remove any defective situation and has failed to do so even with a reasonable time limit provided to it additionally. This Contract may not be rescinded through EDI.

Appears in 4 contracts

Samples: Contract on Electronic, Contract on Electronic, Contract on Electronic

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