What in the circumstances amounts to a reasonable period of time for termination depends on issues such as the duration of the original contract, the obligations of third parties arising from delivery under the contract, whether exceptional expenses were incurred for the performance of the contract and the time taken to redeploy labour and equipment. This meant that not only were the terms of the expired contract considered permanent, but the contract was maintained for an additional full year for a fixed term. To avoid situations where contracts expire, you can create agreements with an auto-renewal clause. This clause automatically extends a contract for deadlines agreed by both parties. Either party may refuse the renewal of the contract by simply informing the other party of its intention not to extend before the end of the initial term. Moreover, the use of the facility can be cancelled and terminated, since this agreement ends and expires with the cessation of commercial operation of the facility. Depending on the size of the termination you prefer, stopping and expiring result in either inconsistency or redundancy. The key to ensuring that an expired contract is not kept on its feet is good contract management. At a recent internal seminar, a participant adopted one of my exemplary provisions, namely that this agreement will expire on 23 August 2007.
The participant argued that the effect of termination would be that one or more parties would terminate a contract earlier than it would otherwise have ended; He said that in that case, the right word would have expired. What to do if you think you have confirmed an expired contract The key to ensuring that an expired contract is not kept on foot is good contract management.