Contract Termination For Convenience In North Carolina
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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).
The termination for convenience clause is designed to give the terminated party a more fair and equitable result than if it were terminated for cause since the termination does not result from its wrongful conduct — a breach of the contract.
TERMINATION FOR CONVENIENCE The government does not need any particular reason to terminate a contract for convenience, other than it is in its best interest do so. Government termination clauses allow contracting officers to terminate contracts for convenience and to enter into settlement agreements.
A termination for convenience clause is a contractual provision that allows one party to terminate the agreement without cause or penalty. In the construction industry, this clause is often included in subcontracts between a general contractor and a subcontractor.
A termination for convenience clause is a contractual provision that allows one party to terminate the agreement without cause or penalty. In the construction industry, this clause is often included in subcontracts between a general contractor and a subcontractor.
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.
