Business, tax and funding
minimum term
In short and in plain language
The minimum term is the time a contract runs at least. Only after that can you end it.
It matters for services that keep running. Examples are upkeep, hosting or a website subscription.
Before you sign, check how long you are bound. Also check how early you must give notice after that.
Definition
The minimum term is the period a contract runs at least before it can be cancelled. It matters for ongoing services such as maintenance, hosting or a website subscription. Before signing, it is worth checking how long you are bound and which notice period applies afterwards.