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An automatic renewal clause is used in the insurance and healthcare industries . An automatic renewal clause (also referred to as an evergreen clause), is activated towards the end of the contractual period whereby it automatically renews the terms of an agreement except when the contract is terminated (through mutual agreement or contract breach), or one of the contracting parties has sent a ...
A notice period or period of notice within a contract may by defined within the contract itself, or subject to a condition of reasonableness.In an employment contract, a notice period is a period between the receipt of the letter of dismissal and the end of the last working day.
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Contract management or contract administration is the management of contracts made with customers, vendors, partners, or employees.Contract management includes negotiating the terms and conditions in contracts and ensuring compliance with the terms and conditions, as well as documenting and agreeing on any changes or amendments that may arise during its implementation or execution.
Insurers are required by state regulations to notify policyholders in writing for nonrenewals and cancellations, and most states require a minimum 30 days notice for a mid-term policy cancellation ...
A termination for convenience clause, or "T for C" clause, [1] enables a party to a contract to bring the contract to an end without the need to establish that the other party is in default, for example because the client party's needs have changed, or in order to arrange for another party to complete the contract. [2]