Lextree Simply the best software for managing legal entities and documents.
The Berkman Letter Practical analysis and commentary for business, law, and more.

How to tell whether a contract is auto-renewing?

0
stars
1
answer
1133
views
I am new to contract management. Most of our contracts have fixed terms. But I've just learned that contract "auto-renewed" without anyone on our team knowing about it. How can I figure out whether a contract is auto-renewing?
Answers
0
stars
Auto-renewal is a generic term usually applied to contracts that include terms that cause the contract to be automatically extended (renewed) for one or more subsequent periods after the initial term of the contract - usually such contracts contain provisions for cancellation prior to the automatic renewal or extension. You need to review the provisions of the contract related to termination in order to determine whether or not any of your contracts will "auto-renew".