Rescission Notice Pro-forma

There is no prescribed form for a rescission notice. LPLC has developed a sample proforma rescission notice to assist practitioners. Importantly, the recipient must be able to determine with reasonable certainty what action needs to be taken in order to comply. That is, the notice must identify the default, set out how to rectify the default including how much money needs to be paid if payment is outstanding, give the consequences if the default is not remedied and the time provided in the contract to remedy the default and refer to the relevant provision in the contract. The sample notice is provided in a word format for practitioners to amend as needed.