From the course: Contracting for Consultants

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Set contract term and termination

Set contract term and termination

From the course: Contracting for Consultants

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Set contract term and termination

- The term of the contract specifies the date the agreement goes into effect, and when it ends. Typically, the term begins upon contract execution. Termination is driven more by the nature of the consulting work you're performing. Most times, termination occurs when you finish providing your services. Other termination clauses explain the various scenarios under which the agreement can be terminated. There are a lot of reasons a contract can be terminated. Here are some of the most common ones. Termination for convenience means a party can end the contract whenever it feels like it. If this clause is in there, be sure there's a provision that you'll be paid for work you've performed up to the date of termination. Also ask that if this provision is invoked, that there's a reasonable written notification period, like 30 or 45 days, so you can wrap up your work. At Thought Leaders I had a client where this provision for termination for convenience was in there. There was a…

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