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A fixed-term contract is a contractual relationship between an employee and an employer that lasts for a specified period that is determined in advance. These contracts are usually regulated by countries' labor laws, to ensure that employers still fulfill basic labour rights regardless of a contract's form, particularly unjust dismissal.
Fixed-term contracts are used when an employer wishes to hire an employee for a specific amount of time that is agreed upon in advance [citation needed]. Also known as task contracts, a fixed-term contract can also be used for the completion of a specific task and the contract will be terminated automatically upon completion of the task.
According to the PMBOK (7th edition) by the Project Management Institute (PMI), Fixed Price Economic Price Adjustment Contract (FPEPA) is a "fixed-price contract, but with a special provision allowing for predefined final adjustments to the contract price due to changed conditions, such as inflation changes, or cost increases (or decrease) for special commodities".
If approved, the contract is usually in force for a fixed term of years, and when that term is up, it is then renegotiated between employees and management. Sometimes there are disputes over the union contract; this particularly occurs in cases of workers fired without just cause in a union workplace.
The Fixed-term Work Directive 99/70/EC is one of three EU Directives that regulate atypical work. Alongside the Part-time Work Directive and the Agency Work Directive its aim is to ensure that people who have not contracted for permanent jobs are nevertheless guaranteed a minimum level of equal treatment compared to full-time permanent staff.
Fixed-term contract: last for a certain length of time, are set in advance, end when a specific task is completed, ends when a specific event takes place. Full-time or part-time contract: has no defined length of time, can be terminated by either party, is to accomplish a specific task, specified number of hours. [42] Agency staff