If either party wants to renew the contract, it should submit a written notice to the other party three months prior to the expiration of the contract.
举一反三
- A forward contract that must be settled by a sale of an asset by one party to the other party is termed a : A: physicals-only contract. B: deliverable forward contract. C: take-and-pay contract.
- 63.Party B has the right to cancel the contract with a written notice to Party A under the following conditions.
- Fifty percent (50%) of the total contract value as advance US $500,000 (_________) , shall be paid by Party A to Party B within three months, from the date of the signing of this contract, i.e. not later than August 31, 2016.
- The terms of the contract define the binding promises of each party to the contract.
- （7）Breaches of Contract: If one party breaches the contract in such a way that the other side is totally deprived of what they expected from the contract, then the aggrieved party may "avoid" the contract (may consider the contract terminated and may suspend its own performance).