A contractual term that offers the right to unilaterally terminate a contract whether or not the other party is in breach of their contractual obligations. A buyer may find that part way through an agreement the circumstances have changed and it is economically advantageous for the buyer to terminate the contract. Alternatively, the buyer may perceive that the contractor has defaulted on their obligations under the contract, but is reluctant to seek to terminate the contract due to default. It may be easier to terminate the agreement for convenience, rather than engage in a protracted dispute as to whether the breach of contract was sufficiently serious to warrant termination.
« Back to Glossary IndexTermination for Convenience
Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
