Express termination rights can be included in commercial contracts to specify the circumstances under which the contract can be lawfully ended.
Termination rights should be considered at the outset of a business relationship and, if appropriate, have sufficient flexibility to end a contract early.
Contract terminations are loaded with risk. There must be a justifiable reason for terminating, otherwise, you could be in material breach of the contract and liable to pay the other side damages.
If you have any other questions relating to commercial law, please contact us today.