CANCELLATION CLAUSE
CANCELLATION CLAUSE
29.1. Conditions of Termination : This agreement may be terminated by either party in the event of failure to comply with its terms, including but not limited to substantial delays, repeated breaches of obligations, or actions detrimental to the performance of the project.
29.2. Notice of Termination : The initiating party must provide written notice to the other party with 5 business days' notice. This notification must be sent by email to the address on file and confirmed in writing.
29.3. Financial Consequences : If the contract is terminated by the client, Arkis Studio will be compensated for all services performed up to the date of termination, calculated on a pro rata basis of the total agreed fees. Any amounts already paid are non-refundable.
If the contract is terminated by Studio Arkis, the client will be required to pay the fees corresponding to services performed up to the date of termination, plus a termination fee equivalent to 30% of the total agreed fees.
29.4. Finalization of Deliverables : In the event of termination, Studio Arkis undertakes to finalize and deliver any deliverables already in progress, subject to full payment of the amounts due for those deliverables.
29.5. Transfer of Files : Both parties agree to cooperate in transferring all relevant files, documents, and information within 5 business days of termination.
29.6. Post-Termination Confidentiality : Both parties agree to maintain the confidentiality of all information exchanged during the collaboration, even after termination of the contract, in accordance with the Confidentiality clause of this agreement.
29.7. Disputes : Any dispute arising from the termination of this agreement will be resolved in accordance with the dispute resolution mechanisms outlined in the Applicable Law & Jurisdiction section of this agreement.
29.8. Effect of Termination : Termination ends all obligations and liabilities of both parties, except those expressly outlined in this section or required to complete outstanding deliverables.
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