Employment Contracts
There are contracts that are specific for employment. These contracts include various clauses. Both sides need to agree. The one that gets accepted wins. Need to go through the fine print. Details and practicality are overlooked. The employer could be left with nothing. It’s expected to be settled in court. The sooner a settlement is finalized, the better it is for the employer in any state. Maturity and experience goes a long way.
Fixed-Term Contracts
The concept of a fixed-term agreement is of a document that both parties agree upon. The set duration is usually stated inside the agreement and that basic principle is easy enough for either party to understand. There are bound to be more words that get added to the document. The basic points are two parties and the job to be done for the period that both parties agree to in the contract.
Is a fixed-term contract different from a non-fixed term employee or an indefinite term employee? For a fixed-term contract, the parties can choose the probability of accepting the terms of the contract for a limited period of time. Indefinite term employment is the opposite of a fixed-term contract. The former has no expiration of the contract as the words in the document cannot be interpreted to mean anything else.
Notice Periods
The person giving the resignation notice and the company that the employee works within can specify a notice period in months which can be stipulated in the fixed-term contract definition document. This is not a hard and fast rule but it would make it easier for either party to start seeking something new. In cases where there is a set period of time left on the contract, the notice period may be helpful in allowing each party time to fulfil the obligations in the document.
Renewing the Contract
Some documents will allow the parties to mutually select a date when the contract would be over. In the case where a date could be selected in the agreement, the contract could be said to have been terminated by the mutual consent of both parties. Both the parties may prefer the agreement and therefore may extend the contract. However, both parties would still prefer not to use words like renewal or vary overtime.
Fixed-Term Employment
At times the use of this kind of agreement can be advantageous as a new arrangement would be better than an existing one. It has its advantages due to employment issues that can occur if the employment contract clearly states that it will not be renewed or that it will be terminated shortly. It is a possibility that the employee thinks the opposite and does not agree to this line of thinking.
Permanent
For the permanent employee a notice period can be used where a reasonable period of time could give the affected party time to plan their future. It is not uncommon for the contract to specify whether the contract will continue or not.
Maturity and Experience
The person that has the maturity and experience is better off with these contracts. It could be that the employment contract with the duration and details of the job make it suitable for the other party in some way. That is a mutually beneficial agreement that can be put into writing between the parties and fulfill the contract that they mutually agreed upon.