Based on organizational policies, contracts are usually created with 30, 60, or even 90 days' notice of termination. If your contract has a termination with cause clause, you will have to present the reason for termination. Hence, as a rule of thumb, before you proceed with the contract termination process, identify the reasons leading to termination, it could be any of the following:
Whatever the cause may be, ideally you should contact an attorney if you are unsure about the contract termination process. An attorney can help you identify the nuances of the contract and avoid any legal pitfalls. However, if you use an AI-enabled CLM solution, like Aavenir Contractflow, you need not look back and worry about your contract lifecycle management workflows.
To get practical insights into the contract termination process, access this checklist by filling out the form and clicking on “Download Now”.
