Parker's camp said promoters had promised a response to his demands for the drugs-testing clause but they had failed to materialise.
Higgins said that as of this morning, he had received no assurances from the Matchroom promoters that the clause would be inserted in the contract.
"Under the circumstances of those conditions not being met, unfortunately we will have to pull out of the fight," Higgins said.
While much of this can be put down to pre-fight posturing, there is a serious element that shouldn't be ignored. The martial sports still have a reputation for their wild west attitude to performance-enhancing drugs. There is a sense that fighters' careers and even lives are being put at risk when there is an uneven playing field.
If the fight does not go ahead, it will undoubtedly be a blow for fans of the heavyweight division. There are riches in the big-man ranks at present but deals to put together big fights have proved hard to stitch together.
By contrast, this one seemed easy.
Chisora is managed by David Haye, a former grizzled heavyweight who retired last year after losing to Tony Bellew. Haye has been pushing for a Parker fight since the two met in Las Vegas earlier this year.
"Joseph Parker said to my face in Vegas, 'Chisora, let's do the fight'," Haye told the media in July. "Dereck wants it, Joseph Parker wants it, [David] Higgins wants it, everybody wants it. The fans want it. It's just a great fight."
Parker's last fight was a TKO victory over journeyman Samoan-Australian puncher Alex Leapai, while Chisora impressed during a two-round obliteration of Poland's Artur Szpilka.
To make the fight happen, Parker has put ego aside and ceded A-side to Chisora, meaning the Brit will get preference over the dressing room and will walk to the ring second.