Lesson check0 / 2 answered · 0 correct
Check 1
Which field can show the final date after automatic extensions stop?
Check 2
Is the word evergreen by itself enough to understand renewal?
Expiry, Automatic Extension and Non-Extension
Understand fixed expiry, conditional expiry and so-called evergreen structures.
Expiry type
Field 23B shows whether expiry is fixed, conditional or open-ended.
Do not assume every standby has one simple calendar expiry date.
Fixed expiry
Field 31E can state a date when the undertaking stops being available.
Condition or event
Field 35G can describe a documentary condition or event that ends availability.
Automatic extension
Field 23F can describe an automatic extension period.
Field 26E can state the notice period for non-extension.
Field 78 can describe non-extension notification details.
Field 31S can state a final expiry after which automatic extensions stop.
The word evergreen
The label evergreen is commonly used in the market, but the learner should read the exact extension and non-extension wording instead of relying on the label.
Remember thisCurrent expiry + non-extension notice + final expiry = the real renewal picture.
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