Commercial
Notice period
How long you must keep paying after you decide to stop.
Definition
The contractual warning either side must give before ending an engagement or removing a person from it. In outsourcing it commonly ranges from two weeks for individual roles to three months for a whole managed team.
Why it matters
The notice period, not the monthly rate, sets your real minimum commitment. A team on three months' notice is a quarter of spend you cannot stop once you decide to. Check whether notice can be served on part of a team or only on the whole engagement, since the latter turns a small correction into an all-or-nothing decision.
Related
Read next
Ramp-down
Ending or shrinking an engagement in a planned way.
Read the definition ›Master service agreement (MSA)
The umbrella contract that individual pieces of work hang from.
Read the definition ›Retainer
A recurring fee that reserves capacity rather than buying a deliverable.
Read the definition ›Trial period
An agreed window to confirm the fit before committing.
Read the definition ›Next step
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