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Contract & Commercial Law vocabulary · Employment Contracts

Notice period

Meaning in contract & commercial law, with examples

nounCore term

In contract & commercial law, notice period means: The length of time between giving notice to end a contract and the date on which the contract actually ends.

In Turkish: ihbar süresi, bildirim süresi

How it is used

Used in employment contracts ('a three-month notice period') and in commercial contracts that can be ended on notice. The contract continues during the notice period, although an employer may instead make a payment in lieu of notice (PILON).

Example sentences

  1. She is serving her notice period and leaves at the end of March.

  2. The contract can be ended at any time, subject to a 90-day notice period.

Common collocations

  • serve a notice period
  • give notice
  • payment in lieu of notice
  • three-month notice period
  • terminateTo end a contract officially, for example because the other party has breached it, or by giving the notice that the contract allows.
  • employment contractA contract between an employer and an employee that sets out the job, pay, working hours, holidays and the rules for ending the relationship.
  • dismissalThe ending of an employee's contract by the employer, whether for misconduct, poor performance, redundancy or another reason.
  • severance payMoney paid by an employer to an employee whose job ends, often based on length of service and sometimes required by law.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Employment Contracts

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This page explains English vocabulary for learners. It is not legal advice.