Closure or Suspension Clause Samples
The 'Closure or Suspension' clause defines the conditions under which a party may temporarily halt or permanently end the performance of obligations under an agreement. Typically, this clause outlines specific events—such as safety concerns, regulatory issues, or force majeure—that justify suspending or closing operations, and may detail the procedures for notification and resumption. Its core function is to provide a clear framework for managing interruptions, thereby reducing uncertainty and allocating responsibility when unforeseen circumstances disrupt normal activities.
Closure or Suspension. We have the right to close Accounts that have not been activated and validated within 30 days of opening the Account, without any prior notice. Asset Manager or Financial Planner
(a) You may elect to nominate an Asset Manager or a Financial Planner in relation to your Account.
(b) Under no circumstances is such Asset Manager or Financial Planner an agent of ours, nor is there the relationship of a partnership, joint venture or like relationship between the Asset Manager or Financial Planner and us, other than an arm’s length commercial relationship.
(c) You may terminate the nomination and authority of your Asset Manager or Financial Planner at any time by giving written notice to us expressly stating that you withdraw that nomination and authority. Failing such written notice you acknowledge that we are entitled to assume that the authority given by you to the Asset Manager or Financial Planner to act on your behalf in relation to your Account currently remains as notified to us when you previously nominated such Asset Manager or Financial Planner.
(d) A decision to nominate an Asset Manager or a Financial Planner is entirely in your discretion and we have no responsibility in relation to your selection of an Asset Manager or a Financial Planner or any liability for loss or damage suffered by you as a result of the action, inaction, negligence or misconduct including, without limitation, advice given to you by your Asset Manager or Financial Planner whether or not acted upon by you.
Closure or Suspension. We have the right to close an Account that has not been activated and validated within 30 days of opening the Account, without any prior notice.