Business, tax and trades
minimum term
In short and in plain language
The minimum term is the time a contract runs at least.
Only after that can it be ended.
You find it in care and service contracts, for example. Website plans have it too.
Without a minimum term, a contract can usually be ended at the next agreed date.
Definition
The minimum term is the period a contract runs at least before it can be cancelled. It appears for example in maintenance contracts, service agreements and website subscriptions. Without a minimum term, a contract can usually be ended at the next agreed date.