Notwithstanding any agreement, prior to the termination, cancellation, nonrenewal or discontinuance of any dealer agreement, the manufacturer or distributor shall furnish notice of the termination, cancellation, nonrenewal or discontinuance to the new motor vehicle dealer as follows:
(a) Except as otherwise provided in this section, notice shall be made not less than one hundred twenty days prior to the effective date of the termination, cancellation, nonrenewal or discontinuance.
(b) Notice shall be by certified mail with restrictive delivery to the new motor vehicle dealer principal and shall contain the following:
(1) A statement of intention to terminate, cancel, not renew or discontinue the dealer agreement;