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Term and termination clauses in contracts: Note on Contracting

Unclear term and termination agreements can risk locking customers into unfavourable contracts, possibly jeopardising business continuity. In cloud contracts, risks are heightened by the complexities of transitioning services or retrieving data upon termination. Well-drafted term and termination clauses can protect both parties’ rights and interests, ensuring clear expectations and mitigating risks. Beltug has created a Note on Contracting providing practical clause samples for our members.

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Having good contracts for ICT suppliers and software publishers is crucial. In our recent Priorities Compass survey, many members expressed the desire to gain inspiration from the contract clauses used by their peers. To address this need, we are creating a library of contract clauses, including a Note on Contracting with term and termination clauses.

Beltug members can download the Note on Contracting after login. It includes:

  • Comprehensive overview:  key clauses related to term, renewal and termination, including practical distinctions between renewal versus extension, and rights to terminate for cause or convenience.
  • Actionable guidance: how to manage complex termination processes in contracts, such as notice periods, dispute resolution, and post-termination obligations like data return.
  • Sample clauses: annotated sample clauses for termination, the effects of termination and exit assistance, to support effective and legally sound contract drafting.

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