término del acuerdo
Definition
This is the length of time a contract or agreement stays in effect, from the day it starts to the day it ends. Think of it as the lifespan of your deal with another party, which can be a fixed period like one year or can continue indefinitely until someone decides to end it.
Example
If you sign a lease for your retail space with a término del acuerdo of 24 months, both you and your landlord are locked into the agreed terms until those two years are up.
Watch Out
Many agreements automatically renew at the end of their term unless you give written notice to cancel within a specific window, so missing that deadline can trap you in another full term.
See which terms appear in your contract?
This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.