Our company declared recession and has reported to DOLE. We reduced working days of the employees so as to cut costs.
In connection to this, our leased line with 3 years subscription is also affected.
We have to cut and discontinue it. However, we have the signed agreement that we have to pay pre-termination fee
if we cannot finish the 3 years contract. We sent them a letter for consideration but they refused it and insist us
to pay the pre-termination fee regardless of the situation. Even we wanted to continue to subscription, the thing is
we already closed the office where that subscprtion is installed.
Please advise, if it would be ok, not to pay the pre-termination fee even if they don't approved it?
WOuld there be any legal problem in the future?