Core TSIs : Contracts : Working with Contracts : Using contract options : Examples of using termination options : Termination options - example 2
Termination options - example 2
Scenario
A contract has no end date (without a specified duration). The contract can be terminated at any time, but a notice period of three months applies.
The following settings are used:
Contract
Field
Field value
Start date contract
January 1, 2025
Duration
-
Notice term
3 months
Proposed termination date
-
In this scenario, do not use a termination option. Instead, change the contract status to Terminated at the Contracts selection level.
The Proposed termination date is calculated automatically based on the current date and the notice term.
Diagram of contract without an end date and with a proposed expiration dateDiagram of contract without an end date and with a proposed expiration date
Example 1
If the current date is 1 Apr 2025, the proposed termination date is 30 Jun 2025.
Example 2
If the current date is 10 Aug 2025, the proposed termination date is 10 Nov 2025.