Arrrgh - what's the word for 'get out clause'?

[MmmmDonuts]

It's driving me potty. Am reviewing a contract and I want a clause inserted which will enable me to terminate it if they fail to offer a certain solution.

 

[DavidBHill]

Try early termination clause

 

[PrestonLad]

Well Mmmmdonuts.... You drove me potty last night... so thanks for that.

But I think it just came to me. I think a Contingency Clause, is the term you mean.

I did a quick check on the net and found this American definition (I don't know if it's authoritative... but it's a good starting point)

http://financial-dictionary.thefreedictionary.com/contingency+clause

A clause that allows cancellation of a contract without penalty if a certain described thing happens (e.g., an inspection report reveals necessary repairs estimated to cost in excess of $1,000) or fails to happen (e.g., failure to obtain satisfactory financing). A contingency clause contains a condition for contract performance.

 

[deniser]

A break clause.

 

[DaveDAC]

I don't think there's a relevant term of art.

In the UK, clauses enabling a party to terminate without cause are generally headed 'Termination Without Cause' or 'Termination for Convenience'. Otherwise the right to terminate is just part of a bigger termination clause.

I have never seen the term Contingency Clause used but, as PrestonLad suggests, this may be the American term.

 

[Geoff T]

try " specific performance clause" - 'this bit' depends on 'that bit being there'... might work...

 

Santa Clause?

You will do the work but only once a year and you expect lots of food

 

[Lucan Unlordly]

'Beam me up Scotty'

 

[MmmmDonuts]

...for the answers. For some reason I didn't get automatic notification of any replies - I wasn't being rude and ignoring you all!

I put in my response that I wanted an 'option to terminate the agreement' if they failed to deliver a particular part of the project on time and this was accepted and worded within the contract.

Cheers for your answers

 

[Geoff T]

...for the answers. For some reason I didn't get automatic notification of any replies - I wasn't being rude and ignoring you all!

I put in my response that I wanted an 'option to terminate the agreement' if they failed to deliver a particular part of the project on time and this was accepted and worded within the contract.

Cheers for your answers

Check your account settings for updates, some turn them on.. some turn them off... you night have them off by mistake...

ps - welcome...