Optional clause: Copy, customize, and use instantly
Introduction
An optional clause provides flexibility within a contract by allowing one or both parties to choose whether to exercise certain rights or obligations, typically within a specified time frame. This clause can be useful for situations where the parties want to leave room for future decisions or actions, without making them mandatory.
Below are templates for optional clauses tailored to different scenarios. Copy, customize, and insert them into your agreement.
Standard optional clause
This variation applies to agreements with an optional right for one party to act.
[Party Name] may, at its sole discretion, choose to [perform a specific action or exercise a right]. If [Party Name] decides to exercise this option, they must notify the other party in writing within [X] days of the decision to proceed.
Optional termination clause
This variation applies to agreements where one or both parties have the option to terminate the contract under certain conditions.
Either party may terminate this Agreement by providing written notice to the other party within [X] days, without cause. Termination will be effective on the date of notice unless otherwise specified by the terminating party.
Optional extension clause
This variation applies to agreements with an optional extension period.
The term of this Agreement may be extended at the discretion of [Party Name] by providing written notice to the other party at least [X] days prior to the expiration of the initial term. The extension period shall be for [X] months/years unless otherwise agreed.
Optional renewal clause
This variation applies to agreements that allow for the optional renewal of terms after the initial period.
This Agreement may be renewed at the option of [Party Name] for an additional [X] years/months, by providing written notice of intent to renew no later than [X] days before the expiration of the current term.
Optional purchase clause
This variation applies to agreements where one party has the option to purchase something from the other party.
[Party Name] has the option to purchase [specified item] from [Other Party] at a price of [price] during the term of this Agreement. The option may be exercised by providing written notice to the other party within [X] days of [specific condition or event].
Optional price adjustment clause
This variation applies to agreements that allow for price adjustments at the discretion of one party.
[Party Name] may, at their sole discretion, adjust the price for goods or services provided under this Agreement by giving [X] days' written notice to the other party. Any adjustment will be based on [specific criteria or conditions for adjustment].
Optional confidentiality clause
This variation applies to agreements where confidentiality is optional, depending on the circumstances.
[Party Name] may, at its discretion, elect to keep certain information confidential. Should confidentiality be elected, the disclosing party shall notify the receiving party in writing, and the information will be treated as confidential in accordance with the terms of this Agreement.
Optional performance guarantee clause
This variation applies to agreements that include an optional performance guarantee.
[Party Name] may choose to provide a performance guarantee for the execution of their obligations under this Agreement. If a performance guarantee is provided, it shall be in the form of [specified guarantee], and the terms will be mutually agreed upon in writing.
Optional dispute resolution clause
This variation applies to agreements where dispute resolution is optional.
In the event of a dispute, [Party Name] may, at its discretion, opt to resolve the issue through mediation or arbitration, instead of litigation. The decision to pursue alternative dispute resolution shall be made by providing written notice within [X] days of the dispute arising.
Optional waiver clause
This variation applies to agreements that provide an option to waive certain rights or obligations.
[Party Name] may waive any of its rights or obligations under this Agreement by providing written notice to the other party. Such a waiver shall be effective upon the date of notice and will not affect the rights or obligations of either party outside of the specific waiver granted.
Optional insurance clause
This variation applies to agreements where the requirement for insurance is optional.
[Party Name] may, at its discretion, obtain and maintain insurance coverage for the duration of this Agreement. If the party decides to obtain insurance, they will provide proof of coverage to the other party within [X] days of obtaining the insurance.
Optional force majeure clause
This variation applies to agreements where the force majeure provision is optional depending on the situation.
[Party Name] may, at its discretion, invoke the force majeure clause in the event of unforeseen circumstances beyond their control that prevent the performance of their obligations. The party invoking the force majeure clause must provide written notice within [X] days of the event.
Optional payment terms clause
This variation applies to agreements where one party may opt for different payment terms.
[Party Name] may, at their discretion, modify the payment terms outlined in this Agreement, including payment schedules or methods. Any modification will require written consent from the other party, which shall be obtained at least [X] days before the payment is due.
Optional indemnification clause
This variation applies to agreements where indemnification is optional.
[Party Name] may, at its sole discretion, indemnify the other party against certain claims, damages, or losses arising from this Agreement. The specific scope of indemnification will be determined by mutual agreement between the parties in writing.
Optional audit clause
This variation applies to agreements where one party has the option to conduct an audit.
[Party Name] may, at its discretion, conduct an audit of the other party’s books and records related to the performance of this Agreement. The audit may take place upon [X] days' notice, and the audited party shall provide full access to the relevant documents.
Optional assignment clause
This variation applies to agreements where the option to assign rights or obligations is available.
[Party Name] may, at its discretion, assign its rights or obligations under this Agreement to a third party, provided that the assignee agrees in writing to abide by the terms of this Agreement. Written notice of such assignment shall be given to the other party within [X] days.
Optional escalation clause
This variation applies to agreements where either party can request an escalation process for unresolved issues.
Either party may, at its discretion, request that unresolved issues be escalated to a higher level of management for resolution. The request for escalation must be made in writing within [X] days of the dispute arising, and both parties will work in good faith to resolve the issue.
Optional notification clause
This variation applies to agreements where one party has the option to notify the other party about changes or actions.
[Party Name] may, at its discretion, notify the other party of any material changes to this Agreement. Such notification shall be provided in writing and may include changes to timelines, terms, or scope of work, with a notice period of [X] days.
Optional audit rights clause
This variation applies to agreements granting optional audit rights.
[Party Name] may, at its sole discretion, exercise audit rights to review the other party’s performance under this Agreement. The audit will take place at a mutually agreed time and location, with [X] days’ notice provided in advance.
Optional election clause
This variation applies to agreements where one party may elect certain rights.
[Party Name] may elect to [take a specific action] under this Agreement at its discretion. The election must be made in writing and communicated to the other party within [X] days after the event that triggers the election.
Optional arbitration clause
This variation applies to agreements where the parties have the option to opt for arbitration.
Either party may, at its discretion, initiate arbitration to resolve any dispute arising under this Agreement. The party seeking arbitration must notify the other party in writing within [X] days of the dispute arising, and both parties must mutually agree on the arbitrator.
Optional waiver of rights clause
This variation applies to agreements where a party may choose to waive certain rights.
[Party Name] may, at its discretion, waive any of its rights under this Agreement by providing written notice to the other party. Such a waiver will be effective immediately upon the date of notice, and will not affect the rights of either party outside of the specific waiver granted.
Optional confidentiality extension clause
This variation applies to agreements where confidentiality can be extended based on the parties' agreement.
The confidentiality provisions of this Agreement may be extended at the option of either party by providing written notice to the other party within [X] days of the expiration of the confidentiality term. The extended confidentiality period will last for [X] additional years.
Optional early termination clause
This variation applies to agreements where one party may terminate the agreement early under specified conditions.
[Party Name] may terminate this Agreement at any time by providing written notice to the other party at least [X] days prior to the desired termination date. Upon early termination, the terminating party will not be liable for any future obligations.
Optional force majeure extension clause
This variation applies to agreements where the parties may choose to extend the force majeure period.
If a force majeure event occurs, either party may, at its discretion, extend the duration of the force majeure period by providing written notice to the other party. The extension may last up to [X] additional days, subject to the mutual agreement of the Parties.
Optional inspection clause
This variation applies to agreements where one party has the option to inspect the other party's work or facilities.
[Party Name] may, at its discretion, inspect the other party's work, facilities, or operations to ensure compliance with this Agreement. The inspection shall be scheduled with [X] days' notice and shall not unreasonably interfere with the normal operations of the inspected party.
Optional penalty clause for delay
This variation applies to agreements where penalties for delays are optional.
[Party Name] may, at its discretion, impose a penalty for any delay in performance under this Agreement. The penalty amount will be determined based on the length of delay and the impact on the overall project, and will be agreed upon in writing by both parties.
Optional payment deferral clause
This variation applies to agreements where a party can defer payment under certain circumstances.
[Party Name] may, at its discretion, defer payments under this Agreement if circumstances arise that justify such deferral. The deferral must be agreed upon in writing and will specify a new payment date that does not exceed [X] days from the original due date.
Optional audit clause
This variation applies to agreements where one party may request an audit of the other party’s records.
[Party Name] may, at its discretion, audit the other party’s records related to this Agreement. The audit will take place at a mutually agreed time and location, and the audited party will provide access to relevant documents within [X] days of the audit request.
Optional service level agreement (SLA) adjustment clause
This variation applies to agreements where the service level agreement (SLA) can be adjusted at the discretion of one party.
Either party may, at its discretion, request an adjustment to the service levels set forth in this Agreement. The adjustment must be requested in writing and mutually agreed upon within [X] days of the request.
Optional product return clause
This variation applies to agreements where one party has the option to return a product.
[Party Name] may, at its discretion, return any products purchased under this Agreement within [X] days of receipt. The products must be returned in their original condition, and any costs associated with the return will be borne by [specify party].
Optional non-compete clause
This variation applies to agreements where one party has the option to impose a non-compete restriction.
[Party Name] may, at its discretion, impose a non-compete clause on the other party for a period of [X] months following the termination of this Agreement. The non-compete will restrict [Party Name] from engaging in activities that directly compete with the business interests of [Party Name].
Optional notice period clause
This variation applies to agreements where the notice period can be extended at the discretion of one party.
[Party Name] may, at its discretion, extend the notice period for termination or any other action required under this Agreement by providing written notice to the other party. The extended notice period will last for [X] additional days.
Optional compensation adjustment clause
This variation applies to agreements where compensation can be adjusted based on certain conditions.
[Party Name] may, at its discretion, adjust the compensation rate for services provided under this Agreement. Any adjustment will be based on changes in [industry rates, inflation, etc.] and will be communicated in writing with [X] days' notice.
Optional governing law selection clause
This variation applies to agreements where the governing law can be chosen by one party.
[Party Name] may, at its discretion, select the governing law for this Agreement. If [Party Name] exercises this option, written notice will be provided to the other party, specifying the jurisdiction and laws that will apply.
Optional indemnification clause
This variation applies to agreements where indemnification is optional.
[Party Name] may, at its discretion, indemnify the other party against any claims, damages, or losses arising from the performance of this Agreement. The indemnification will be provided on terms mutually agreed upon by the Parties.
Optional material breach notice clause
This variation applies to agreements where one party may choose to issue a notice of material breach.
[Party Name] may, at its discretion, issue a notice of material breach to the other party. The notice will specify the breach and provide [X] days to remedy the issue before taking further action.
Optional performance bonus clause
This variation applies to agreements where one party may choose to offer a performance bonus.
[Party Name] may, at its discretion, offer a performance bonus to the other party based on achieving specific targets outlined in this Agreement. The bonus amount and criteria will be agreed upon in writing at the time the targets are set.
Optional geographic scope clause
This variation applies to agreements where the geographic scope can be modified at the discretion of one party.
[Party Name] may, at its discretion, expand or limit the geographic scope of this Agreement. Any changes to the geographic scope will require written notice to the other party within [X] days.
Optional contract amendment clause
This variation applies to agreements that allow amendments at the discretion of one party.
[Party Name] may, at its discretion, amend any terms or provisions of this Agreement by providing written notice to the other party. The amendment will become effective on the date specified in the notice, unless otherwise agreed.
Optional adjustment of delivery schedule clause
This variation applies to agreements where delivery schedules can be adjusted at the discretion of one party.
[Party Name] may, at its discretion, adjust the delivery schedule for any products or services under this Agreement. Any adjustments will be communicated in writing and agreed upon by both parties before the revised delivery date.
Optional right to extend contract term clause
This variation applies to agreements where the contract term can be extended at the option of one party.
[Party Name] may, at its discretion, extend the term of this Agreement for an additional [X] months/years. To exercise this option, [Party Name] must provide written notice to the other party at least [X] days before the current term expires.
Optional assignment of rights clause
This variation applies to agreements where one party has the option to assign their rights under the contract.
[Party Name] may, at its discretion, assign its rights or obligations under this Agreement to any third party without the prior consent of the other party. Written notice of such assignment must be provided to the other party within [X] days of the assignment.
Optional upgrade clause
This variation applies to agreements where one party has the option to upgrade the service or product.
[Party Name] may, at its discretion, upgrade the services or products provided under this Agreement. The new terms and conditions of the upgrade will be communicated in writing and agreed upon by both parties prior to the implementation of the upgrade.
Optional penalty clause for late payment
This variation applies to agreements where the imposition of a penalty for late payment is at the discretion of one party.
[Party Name] may, at its discretion, impose a penalty for any late payment under this Agreement. The penalty will be a percentage of the overdue amount, calculated based on the number of days the payment is delayed.
Optional product return and refund clause
This variation applies to agreements where the return or refund of products is optional.
[Party Name] may, at its discretion, accept the return of products purchased under this Agreement and provide a refund. The return must be made within [X] days of purchase, and the products must be in their original condition.
Optional reduction of service fees clause
This variation applies to agreements where one party has the option to reduce service fees.
[Party Name] may, at its discretion, reduce the service fees specified in this Agreement based on the performance or duration of the agreement. Any reduction will be communicated in writing and will take effect as of the next billing cycle.
Optional adjustment of contract value clause
This variation applies to agreements where the contract value can be adjusted at the discretion of one party.
[Party Name] may, at its discretion, adjust the contract value based on changes in scope or requirements. Any adjustment to the value will be confirmed in writing and agreed upon by both parties before it becomes effective.
Optional extension of warranty clause
This variation applies to agreements where one party can choose to extend the warranty period.
[Party Name] may, at its discretion, extend the warranty period for the products or services provided under this Agreement. The extended warranty terms will be agreed upon in writing and will take effect immediately upon expiration of the original warranty period.
Optional renewal of maintenance services clause
This variation applies to agreements where maintenance services can be renewed at the discretion of one party.
[Party Name] may, at its discretion, renew the maintenance services specified in this Agreement for an additional term. The renewal will be subject to the same terms and conditions, unless otherwise agreed by the Parties in writing.
Optional security measures clause
This variation applies to agreements where the adoption of additional security measures is optional.
[Party Name] may, at its discretion, implement additional security measures to protect confidential or proprietary information. The implementation of such measures will be communicated in writing and agreed upon by both parties.
Optional suspension of obligations clause
This variation applies to agreements where the suspension of obligations is at the discretion of one party.
[Party Name] may, at its discretion, suspend any obligations under this Agreement due to unforeseen circumstances or force majeure events. Any suspension will be communicated in writing, and the suspended obligations will resume once the issue is resolved.
Optional review of contract terms clause
This variation applies to agreements where one party may request a review of contract terms.
[Party Name] may, at its discretion, request a review of the contract terms at any point during the term of this Agreement. The request for review must be made in writing, and the Parties will mutually agree on any necessary amendments.
Optional delivery method clause
This variation applies to agreements where the delivery method is optional.
[Party Name] may, at its discretion, choose the method of delivery for the products or services specified in this Agreement. The delivery method will be communicated in writing and agreed upon by both parties before delivery occurs.
Optional cancellation clause
This variation applies to agreements where one party can choose to cancel the contract under specified conditions.
[Party Name] may, at its discretion, cancel this Agreement with [X] days’ written notice to the other party. Upon cancellation, both parties will settle any outstanding obligations as of the cancellation date.
Optional market condition clause
This variation applies to agreements where market conditions may trigger optional actions.
[Party Name] may, at its discretion, adjust the terms of this Agreement based on market conditions, including fluctuations in supply costs or demand. Any adjustments will be communicated in writing, and the Parties will agree to any changes before they take effect.
Optional rights to inspect documents clause
This variation applies to agreements where one party has the option to inspect the other party's documents.
[Party Name] may, at its discretion, inspect any relevant documents held by the other party to ensure compliance with the terms of this Agreement. The inspection will be scheduled with [X] days’ written notice.
Optional performance threshold clause
This variation applies to agreements where certain performance thresholds trigger optional actions.
[Party Name] may, at its discretion, trigger certain actions under this Agreement if performance thresholds, such as sales targets or product benchmarks, are exceeded. These actions will be defined in writing and communicated to the other party before implementation.
Optional compliance monitoring clause
This variation applies to agreements where one party can choose to monitor the other party's compliance with terms.
[Party Name] may, at its discretion, monitor the other party's compliance with the terms of this Agreement. The monitoring process will be carried out by a third-party auditor, and the cost will be borne by [Party Name].
Optional change of location clause
This variation applies to agreements where the location of performance can be changed at the discretion of one party.
[Party Name] may, at its discretion, change the location of performance under this Agreement. The new location will be communicated in writing and must be agreed upon by the other party before the change occurs.
Optional pricing adjustments clause
This variation applies to agreements where pricing adjustments are optional based on certain factors.
[Party Name] may, at its discretion, adjust the prices specified in this Agreement based on changes in [specific factors such as inflation, raw material costs, etc.]. The new prices will be communicated in writing at least [X] days before implementation.
Optional exclusivity clause
This variation applies to agreements where one party may choose to grant or revoke exclusivity.
[Party Name] may, at its discretion, grant [exclusivity or non-exclusivity] for the rights or obligations outlined in this Agreement. The decision to grant exclusivity must be communicated in writing at least [X] days before it takes effect.
Optional dispute escalation clause
This variation applies to agreements where the parties may opt to escalate unresolved disputes to a higher level.
If a dispute arises under this Agreement, either party may, at its discretion, escalate the issue to senior management for resolution. The escalation must be initiated in writing within [X] days of the dispute, and both parties will meet to resolve the issue.
Optional payment method clause
This variation applies to agreements where one party can choose the payment method.
[Party Name] may, at its discretion, choose the payment method for any amounts due under this Agreement. Options may include wire transfer, check, or credit card, and will be communicated to the other party at least [X] days before the payment is due.
Optional performance verification clause
This variation applies to agreements where performance can be verified at the discretion of one party.
[Party Name] may, at its discretion, request verification of performance by the other party. The verification process will be completed within [X] days of the request and may include audits, reviews, or other evaluations as necessary.
Optional termination for convenience clause
This variation applies to agreements where either party may terminate the contract without cause.
Either party may, at its discretion, terminate this Agreement for convenience by providing [X] days' written notice to the other party. Termination will be effective on the date specified in the notice, and both parties will settle any outstanding obligations.
Optional notice period extension clause
This variation applies to agreements where the notice period can be extended at one party's discretion.
[Party Name] may, at its discretion, extend the notice period required for termination of this Agreement by [X] days. The extension must be communicated in writing to the other party at least [X] days before the original notice period expires.
Optional legal review clause
This variation applies to agreements where the legal review of the contract or its amendments is optional.
[Party Name] may, at its discretion, request a legal review of any amendment or addition to this Agreement. The review will be conducted by an attorney, and the cost will be borne by [Party Name], unless otherwise agreed.
Optional subcontracting clause
This variation applies to agreements where subcontracting is optional for one of the parties.
[Party Name] may, at its discretion, subcontract any part of the work or obligations under this Agreement to a third party. The subcontracting party will remain responsible for the performance of the subcontracted work.
Optional audit rights for intellectual property use clause
This variation applies to agreements where one party may audit the other party's use of intellectual property.
[Party Name] may, at its discretion, audit the other party's use of intellectual property provided under this Agreement. The audit will take place at a mutually agreed time, and the audited party will provide access to the necessary records and documents.
Optional limitation of liability clause
This variation applies to agreements where the limitation of liability is optional for one party.
[Party Name] may, at its discretion, limit its liability for any damages arising from this Agreement. Any limitation will be specified in writing and agreed upon by both parties prior to the execution of this Agreement.
Optional renewal of contract terms clause
This variation applies to agreements where the terms of the contract can be renewed at the discretion of one party.
[Party Name] may, at its discretion, renew the terms of this Agreement for an additional term of [X] months/years. The renewal will be confirmed in writing by [X] days before the expiration of the current term.
Optional change of scope clause
This variation applies to agreements where the scope of work can be changed at the discretion of one party.
[Party Name] may, at its discretion, change the scope of work outlined in this Agreement. Any changes will be documented in writing and must be agreed upon by both parties prior to implementation.
Optional modification of delivery terms clause
This variation applies to agreements where delivery terms can be modified at the discretion of one party.
[Party Name] may, at its discretion, modify the delivery terms for products or services under this Agreement. Any modifications will be communicated in writing, and both parties must agree to the new terms.
Optional confidentiality period extension clause
This variation applies to agreements where the confidentiality period can be extended at the discretion of one party.
[Party Name] may, at its discretion, extend the confidentiality period specified in this Agreement. The extended period will be agreed upon in writing and will begin immediately upon the expiration of the original confidentiality term.
Optional refund for non-performance clause
This variation applies to agreements where a refund for non-performance is optional.
[Party Name] may, at its discretion, provide a refund if the other party fails to perform according to the terms of this Agreement. The amount of the refund will be determined based on the extent of non-performance and will be communicated in writing within [X] days of the performance failure.
Optional milestone change clause
This variation applies to agreements where milestone requirements can be changed at one party's discretion.
[Party Name] may, at its discretion, change the milestones specified in this Agreement. Any changes to the milestones will be communicated in writing and must be agreed upon by both parties.
Optional evaluation of performance clause
This variation applies to agreements where performance evaluation is optional.
[Party Name] may, at its discretion, evaluate the other party’s performance under this Agreement. The evaluation will take place at the end of each contract year, and the results may lead to adjustments in the contract terms, subject to mutual agreement.
Optional non-disclosure extension clause
This variation applies to agreements where the non-disclosure terms can be extended at one party's discretion.
[Party Name] may, at its discretion, extend the non-disclosure obligations outlined in this Agreement. The extension will be agreed upon in writing and will be effective immediately upon the expiration of the original non-disclosure period.
Optional pricing tier adjustment clause
This variation applies to agreements where pricing tiers can be adjusted at one party's discretion.
[Party Name] may, at its discretion, adjust the pricing tiers specified in this Agreement. Any adjustments will be communicated in writing and will take effect within [X] days of notice being provided.
Optional partnership renewal clause
This variation applies to agreements where the partnership can be renewed at the discretion of one party.
[Party Name] may, at its discretion, renew the partnership outlined in this Agreement for an additional term of [X] months/years. The renewal will be confirmed in writing at least [X] days before the expiration of the current term.
Optional review and renegotiation clause
This variation applies to agreements where the terms can be reviewed and renegotiated by one party.
[Party Name] may, at its discretion, initiate a review of the terms and conditions of this Agreement after [X] months. The review may lead to renegotiation of specific clauses, which will require the mutual written agreement of both parties.
Optional exclusivity termination clause
This variation applies to agreements where exclusivity can be terminated at the discretion of one party.
[Party Name] may, at its discretion, terminate the exclusivity provisions of this Agreement with [X] days' written notice to the other party. After termination, both parties may enter into agreements with other third parties.
Optional milestone deadline extension clause
This variation applies to agreements where a deadline for a milestone can be extended at the discretion of one party.
[Party Name] may, at its discretion, extend the deadline for achieving any milestone specified in this Agreement. The extension must be agreed upon in writing by both parties and will apply only to the specific milestone being extended.
Optional product upgrade clause
This variation applies to agreements where one party can opt for a product upgrade.
[Party Name] may, at its discretion, request an upgrade to the products or services provided under this Agreement. The terms of the upgrade, including any additional costs, will be mutually agreed upon by both parties in writing.
Optional quantity change clause
This variation applies to agreements where the quantity of goods or services can be changed at the discretion of one party.
[Party Name] may, at its discretion, modify the quantity of goods or services to be provided under this Agreement. Any changes will be confirmed in writing, and any adjustment to pricing will be based on the new quantity.
Optional delay penalty clause
This variation applies to agreements where penalties for delays are optional.
[Party Name] may, at its discretion, impose a penalty for any delays in the delivery of goods or services under this Agreement. The penalty will be calculated as a percentage of the delayed amount and will be communicated in writing.
Optional intellectual property assignment clause
This variation applies to agreements where intellectual property rights can be assigned at the discretion of one party.
[Party Name] may, at its discretion, assign its intellectual property rights under this Agreement to any third party. Written notice of such assignment must be provided to the other party, who will acknowledge the assignment in writing.
Optional confidentiality breach action clause
This variation applies to agreements where action following a breach of confidentiality is optional.
[Party Name] may, at its discretion, take legal action or impose penalties if a breach of confidentiality occurs. The actions taken will be determined on a case-by-case basis and will depend on the severity of the breach.
Optional termination for convenience by the supplier
This variation applies to agreements where the supplier may terminate the agreement for convenience.
The supplier may, at its discretion, terminate this Agreement for convenience by providing [X] days' written notice to the customer. Termination will be effective on the date specified in the notice.
Optional quantity-based discount clause
This variation applies to agreements where discounts based on quantity purchased are optional.
[Party Name] may, at its discretion, offer a discount based on the quantity of goods or services purchased under this Agreement. The discount percentage will be based on the total volume and will be specified at the time of purchase.
Optional security deposit requirement clause
This variation applies to agreements where one party may request a security deposit.
[Party Name] may, at its discretion, require a security deposit to be paid by [Other Party]. The amount of the deposit will be agreed upon by both parties and must be paid within [X] days of the contract signing.
Optional refund for service dissatisfaction clause
This variation applies to agreements where one party can request a refund if dissatisfied with the service.
[Party Name] may, at its discretion, provide a refund if the other party is dissatisfied with the service provided under this Agreement. The refund will be based on the level of dissatisfaction and will be determined on a case-by-case basis.
Optional dispute settlement method clause
This variation applies to agreements where the method of settling disputes is optional.
[Party Name] may, at its discretion, choose the method of dispute resolution, including arbitration, mediation, or litigation. The method selected will be communicated in writing to the other party, and both parties will work to resolve the dispute accordingly.
Optional modification of services clause
This variation applies to agreements where the scope of services can be modified at the discretion of one party.
[Party Name] may, at its discretion, modify the scope of services to be provided under this Agreement. Any modifications will be documented in writing and agreed upon by both parties before implementation.
Optional asset transfer clause
This variation applies to agreements where the transfer of assets is optional.
[Party Name] may, at its discretion, transfer ownership of assets related to this Agreement to [Other Party]. The transfer will be documented in writing and will take effect upon the execution of the transfer agreement.
Optional change of jurisdiction clause
This variation applies to agreements where the jurisdiction for legal disputes can be changed at the discretion of one party.
[Party Name] may, at its discretion, change the jurisdiction under which legal disputes will be settled. The new jurisdiction will be communicated in writing and will be effective immediately upon notice.
Optional non-compete period clause
This variation applies to agreements where the non-compete period can be extended at the discretion of one party.
[Party Name] may, at its discretion, extend the non-compete period specified in this Agreement for an additional [X] months/years. The extension must be confirmed in writing, and the terms of the non-compete will remain the same as originally agreed.
Optional adjustment of terms clause
This variation applies to agreements where the terms can be adjusted at the discretion of one party.
[Party Name] may, at its discretion, adjust the terms and conditions of this Agreement by providing written notice to the other party. The adjustment will be effective [X] days after the notice is given.
Optional withdrawal of offer clause
This variation applies to agreements where an offer can be withdrawn at one party's discretion.
[Party Name] may, at its discretion, withdraw any offer made under this Agreement by providing [X] days' written notice to the other party. Upon withdrawal, no further obligations will be incurred.
Optional automatic renewal clause
This variation applies to agreements that automatically renew, unless one party opts out.
This Agreement will automatically renew for successive terms of [X] months/years, unless either party provides written notice of non-renewal at least [X] days prior to the expiration of the current term.
Optional change in pricing terms clause
This variation applies to agreements where pricing terms can be changed at one party’s discretion.
[Party Name] may, at its discretion, change the pricing terms of this Agreement by providing written notice to the other party at least [X] days before the new prices take effect. The adjusted prices will apply from the specified date onwards.
Optional review of performance metrics clause
This variation applies to agreements where the performance metrics may be reviewed at the discretion of one party.
[Party Name] may, at its discretion, review the performance metrics set out in this Agreement. The review will take place at least once every [X] months, and any changes will be communicated in writing.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.