A contract termination form informs all parties included in a contract that the agreement is being terminated. The form is used when services included in a contract are no longer needed or when an individual is dissatisfied with the performance of services included in a contract.
Contract termination forms help maintain business relationships in case similar services are needed in the future. The form includes the terms under which an individual is allowed to void a contract and the date when the contract ends. Contract termination forms also serve as a legal record in case any parties have a difference of opinion in the future or choose to take legal action.