Closeout Terms and Conditions Clause Samples

The Closeout Terms and Conditions clause defines the procedures and requirements that apply when a contract or agreement is being concluded or terminated. Typically, this clause outlines the steps for finalizing outstanding obligations, settling payments, returning property, or resolving any remaining disputes between the parties. Its core practical function is to ensure a smooth and orderly conclusion to the contractual relationship, minimizing confusion and reducing the risk of unresolved issues after the contract ends.