jayesh (cs) 06 April 2015

Cancellation of an foreign agreement

x (indian company) has signed an agreement with a german company for 10 years. stating that it will use its technology and x company will pay royality of USD 2000 per anumn for the same. Suddenly x company feels that the technology will not work in indian market and wants to cancel the agreement. is it possible ? and what is the procedure agreement is already signed

Reply Follow

2 Replies

Jatin Mittal (Corporate Lawyer) 08 April 2015

Hi Jayesh

There must be a termination clause in the agreement. If you can send me the agreement to me then I can comment, but without seeing the conditions agreed between the parties, it is quite vague to make any comment. Please write to me at mitaaljets@gmail.com.