1. If the main contract is terminated, it shall be terminated at the same time, unless otherwise provided by law or agreed by the parties;

2. After the termination of the contract, both parties shall uphold the principle of good faith and perform the obligations of rescue and recovery after the termination of the contract; Or stop performing; If it has been performed, it may request restitution, take remedial measures and claim compensation; Take responsibility for breach of contract. Generally speaking, the termination of contractual rights and obligations does not affect the validity of settlement and liquidation clauses.

Legal Consequences of Termination of Entrustment Contract

1. Consequences of the parties' unauthorized termination of the entrustment contract. Either party to the entrustment contract has the right to terminate the entrustment contract at any time. However, if the termination of the entrustment contract causes losses to the other party, the party that terminates the contract shall compensate for the losses, except for reasons not attributable to itself. For example, the client is in a coma, unable to arrange the handling of the entrusted affairs, and the handling of the entrusted affairs is at a critical stage. If the agent terminates the contract, it will inevitably bring damage to the client, and the agent shall be liable for damages. Of course, if one party terminates the contract for reasons not attributable to itself, it may not be liable for compensation. However, in this case, the party who cancels the contract must bear the burden of proof to prove the existence of causes not attributable to himself. Regarding the liability for compensation for the termination of the entrustment contract, if the termination of the contract causes losses to the other party, it shall compensate for the losses except for reasons not attributable to the parties;

2. Consequences of termination of the entrustment contract due to one party's reasons. When the termination of the entrustment contract will harm the interests of the principal due to the death, incapacity or bankruptcy of the principal, the trustee shall continue to handle the entrusted affairs before the heir, legal agent or liquidation organization of the principal undertakes the entrusted affairs;

3. Where the entrustment contract is terminated due to the death, incapacity or bankruptcy of the trustee, the successor, legal representative or liquidation organization of the trustee shall promptly notify the principal. If the termination of the entrustment contract will harm the interests of the client, the successor, legal representative or liquidation organization of the trustee shall take necessary measures before the client completes the aftermath.

To sum up, there is no need for special treatment when both parties terminate the contract. If you want to continue the contract, you can renew it, if you don't want to, you can terminate it.

Legal basis:

Article 566 of the Civil Code of People's Republic of China (PRC)

After the termination of the contract, if it has not been performed, the performance shall be terminated; If it has been performed, according to the performance and the nature of the contract, the parties may request restitution or take other remedial measures, and have the right to claim compensation for losses.

Where the contract is terminated due to breach of contract, the creditor may require the breaching party to bear the liability for breach of contract, unless otherwise agreed by the parties.

After the termination of the main contract, the guarantor shall still be liable for the civil liability of the debtor, unless otherwise agreed in the guarantee contract.