Utah Termination for Convenience is a process in which a contract can be canceled by either party without a breach of contract. This is commonly used when an agreement is no longer mutually beneficial, or when one or both of the parties want to end the contract before the completion of the work. It is sometimes referred to as a "no-fault termination." There are two types of Utah Termination for Convenience: unilateral termination and mutual termination. Unilateral termination is when one party cancels the contract without the consent of the other party, while mutual termination is when both parties agree to end the contract. Under Utah state law, the party who terminates the contract is liable for any losses the other party may incur, including any damages or unpaid fees.
Utah Termination for convenience
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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.
NOTICE OF TERMINATION FOR CONVENIENCE (SAMPLE) Pursuant to Section (Termination) of the contract, this contract is hereby terminated effective date. Contractor Name is directed to immediately stop all work, terminate subcontracts, and place no further orders.
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.
A 'termination for convenience' clause allows one party to a contract to terminate the contract without cause. although these clauses are increasingly being used to provide flexibility in contracts,they have been given little judicial consideration.
What is a Termination for Convenience Clause? 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).
What does ?termination for convenience? mean? Many construction contracts contain termination for convenience clauses, which purport to allow a party (typically an owner) to terminate an agreement without cause.
From a contractor's point of view, the owner's exercise of a termination for convenience clause can impact the contractor's contract profit. Simply stated, if the contract is terminated for convenience, the contractor will not earn the profit that was anticipated when the contract was executed.