Common use of Terms of Termination Clause in Contracts

Terms of Termination. The Agreement may be terminated as follows: Either party can terminate the agreement by giving ‘9 Weeks’ written notice. If the client terminates the agreement then the same shall be liable to pay 9 Weeks billing at the time of termination. In case where Minimum Billing Period is applicable: Firm can’t terminate agreement before minimum billing period. In case if a firm opts to terminate the agreement before the minimum billing period then firm shall be liable to pay compensation for 9 Weeks of notice period or “Balance Billing Period” (i.e remaining part of minimum billing period which is unpaid. i.e Balance Billing Period = (Minimum Billing Period – Billing period paid))whichever is ending later. For the purpose of this agreement, the billing period for the respective Hiring Options shall start from the day of assignment of the Remote Staff.