Notice Of Termination Of Contract For Convenience

State:
Tennessee
Control #:
TN-I17-WC
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Description

Official Workers' Compensation form in pdf format.

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FAQ

A termination for convenience clause is a clause in a construction contract that allows one or both parties to terminate the agreement without a specific reason for doing so (such as a default or breach of the contract).

Termination for convenience clauses are intended to provide the owner with the option to terminate the remaining balance of the contracted for work for a reason other than the contractor's default.

Termination for Convenience. Either party may terminate this Agreement without cause and at any time upon giving 30 days' prior written notice to the other party (each, a termination for "Convenience"). Such termination will be effective on the date stated in the notice.

Termination for convenience refers to the exercise of the government's right to bring to an end the performance of all or part of the work provided for under a contract prior to the expiration of the contract when it is in the Government's interest to do so.

Stated in simple terms, the basic concept is that a partial termination for convenience is priced by adding up from zero all the costs incurred for the completed work as well as the anticipated costs for the remaining work whereas a deductive change is priced by subtracting the estimate of future costs to perform the

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Construction contracts often include termination for convenience clauses. Contract to terminate the contract without cause.The Employer can then claim the costs of completing the Works from the Contractor under sub-cause 15.4(c). The following letter notice of termination is suggested for use if a contract for supplies is being terminated for convenience.

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Notice Of Termination Of Contract For Convenience