Tag: Renewal

Automatic Renewal Clauses are contract clauses that automatically renew the contract after a specified period. If you want to stop using the product or service, you must contact the company and cancel your subscription before the original term expires. Otherwise, you will continue paying for another term, at the end of which, you will likely receive another renewal notice prompting you to renew your subscription again.

Contract renewal is the final stage in a contract lifecycle where there is an extension of an existing contract for a new term. This stage comes when businesses decide after the end of an agreement and the parties decide if they would like to continue the business relationship.