A Notice of Rescission is a written document that formally terminates a contract or agreement. It is a formal statement that one party is withdrawing their signature, thereby ending the agreement. A Notice of Rescission can be used to cancel any type of contract, including purchase agreements, loan agreements, employment contracts, or other legal contracts. There are two types of Notice of Rescission: unilateral and bilateral. Unilateral rescission is when one party terminates the contract without the consent of the other party. Bilateral rescission is when both parties mutually agree to end the contract. A Notice of Rescission must be in writing and must be signed by both parties. It should include the date of the contract termination, the reasons for the rescission, and any remaining obligations of either party. It should also include the signature of both parties, and the date of the rescission.