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A fixed-term contract is a contractual relationship between an employee and an employer that lasts for a specified period that is determined in advance. These contracts are usually regulated by countries' labor laws, to ensure that employers still fulfill basic labour rights regardless of a contract's form, particularly unjust dismissal.
Also known as task contracts, a fixed-term contract can also be used for the completion of a specific task and the contract will be terminated automatically upon completion of the task. Either party may terminate the contract before the end of the specified term if appropriate notice is given by either side (University of Strathclyde, 2013).
A contract may state a period of notice which either/any party is required to give to the other contractual parties. The contract between Winter Garden Theatre (London) Ltd. and Millennium Productions Ltd., which gave rise to a 1948 legal case, stated that Millennium would have to give a month's notice if it wished to terminate, but Winter Garden's obligations were not stated.
The formalization of successive fixed-term contracts, which exceeds the requirements set forth in paragraph b) of this article, converts the contract into an indefinite-term contract (article 90 LCL). The burden of proof that the contract is for a fixed term is on the employer (article 92 LCL). The fixed-term employment contract will last until ...
In Hong Kong, an employee employed under a continuous contract for not less than 24 months is eligible for severance payment if: he is dismissed by reason of redundancy; his fixed term employment contract expires without being renewed due to redundancy; or; he is laid off [34]
The “probationary” term used to describe ... including dismissing term employees (those working on a fixed contract) before probationary employees, and giving workers 60 days’ notice. ...
An automatic renewal clause is used in the insurance and healthcare industries . An automatic renewal clause (also referred to as an evergreen clause), is activated towards the end of the contractual period whereby it automatically renews the terms of an agreement except when the contract is terminated (through mutual agreement or contract breach), or one of the contracting parties has sent a ...
A free look period is an important window of time provided by insurance companies to policyholders. It offers a last chance to review an annuity and its contract in detail and cancel without ...