Order Term and automatic renewal
Catalog row in Vendor License Programs · Cited
- Kind
- Subscription umbrella
- Term
- Initial Order Term per Order; then 12-month renewals
- Aliases
- Initial Order Term; Renewal Order Term
- Definition
- MSA s.2(b): the Initial Order Term is as specified in the Order or SOW; following it, "the Order shall automatically renew for successive twelve (12) month periods" unless either party gives written notice of non-renewal at least sixty days before expiry.
- Commercial rules
- Nexthink may charge then-applicable subscription fees for each Renewal Order Term if it gives notice of the increase at least 60 days before the current Order Term expires. Fees are due annually in advance, net 30 days, unless the Order says otherwise; fees are non-refundable.
- Applies to
- All Services ordered under a Main Services Agreement Order or SOW
- Related metrics