Is termination for convenience the same as termination without cause?

Unlike a termination for cause, a termination for convenience occurs without a breach of contract. Basically, one party decides that they've had enough and want to walk away. It's not technically legal, unless the contract gives either party the right to do this, but it does occur in the construction industry.

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Termination or Cancellation of Listing Agreement

Termination Of Contract For Convenience In Fulton

Q: What rights does the owner have when terminating a construction contract for convenience?

A termination for convenience clause states that a property owner may terminate a contractor at its convenience for no reason at all. There does not need to be any breach of contract in place. However, the clauses typically require advance notice (such as 30 days).

Category:

Real Estate - Contracts - Agents

State:

Multi-State

County:

Fulton

Control #:

US-00048DR

Format:

Instant download

Description

The Termination of Contract for Convenience in Fulton allows parties engaged in a Listing Agreement to mutually agree to terminate the contract. This template provides a clear structure, beginning with the identification of the Broker and Seller, followed by the formal agreement to end the Listing Agreement effective on a specified date. Key features include a waiver of claims by the Broker against the Seller, the release of obligations for further services, and provisions regarding compensation earned before termination. It is essential to fill in the names, addresses, and specific dates accurately to ensure the document is effective. This form is particularly valuable for attorneys, partners, owners, associates, paralegals, and legal assistants, as it offers a straightforward solution for clients seeking to exit a Listing Agreement without incurring additional liabilities. Legal professionals can easily edit the form to suit unique scenarios, providing their clients with the necessary legal protection while simplifying the process of contract termination.

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FAQ

Unilateral Right to Terminate Without Cause: Termination for convenience clauses generally allow one party, often the government entity, to terminate the contract without needing to establish fault or breach by the other party.

A contractual right to terminate an agreement for any reason. It may also be referred to as termination without cause. A right to terminate for convenience usually requires the terminating party to provide a certain period of notice before the termination is effective and usually in writing.

Parties may agree to include a termination for convenience clause in a contract under the freedom of contract principle. However, in some countries and legal jurisdictions they may be statute law or case law which affects the operation or interpretation of such a clause.

As a rule of law, unless it is excluded by the terms of the contract, a party has a right to terminate a contract where there has been: a breach of an essential term (otherwise known as a condition); a sufficiently serious breach of an intermediate term; or.

A “termination for convenience” clause states that a property owner may terminate a contractor at its convenience for no reason at all. There does not need to be any breach of contract in place. However, the clauses typically require advance notice (such as 30 days).

Unlike a termination for cause, a termination for convenience occurs without a breach of contract. Basically, one party decides that they've had enough and want to walk away. It's not technically legal, unless the contract gives either party the right to do this, but it does occur in the construction industry.

A convenience contract is a contract for specific goods or services, or both, that is solicited and established in ance with procurement laws and rules for use by a specific agency or a specified group of agencies as needed from time to time.

A contractual provision that enables an owner to terminate the contract of a contractor, construction manager, or design-builder (builder) for reasons other than the builder's contractual default.