Negotiator Mohammed Shtayyeh told AFP the move was in response to "increasing settlement building (by Israel) and the absence of any hope of achieving results."
"Until now, president Abbas has not accepted our resignation," he added.
Shtayyeh held Israel "completely responsible for the failure of negotiations, because of the continuation and escalation of settlement building."
Another negotiator, speaking on condition of anonymity, confirmed the resignations.
"Abbas has a number of choices here -- he can refuse or accept and form a new delegation, or demand a new negotiations mechanism," he said, referring to the possibility of indirect talks through a US team.
Following mediation by Washington, direct talks resumed in July after a three-year hiatus that was due primarily to Palestinian refusal to talk while settlement expansion continued.
Since, then Israel has announced plans to build thousands of new settler homes in the occupied West Bank -- territory the Palestinians want for their future state under any peace deal.
Late yesterday, Prime Minister Benjamin Netanyahu ordered cancellation of plans to build 20,000 more homes in the West Bank, hours after their announcement sparked US and Palestinian criticism.
Abbas had warned that he would declare the peace process over if they went ahead.
For his part, UN Middle East special coordinator Robert Serry issued a statement reiterating the position of Secretary General Ban Ki-moon that settlements are "contrary to international law and an obstacle to peace.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
