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Meaning & use

evergreen contracts

noun·Advancedbusiness

Last updated

UK/ˈevəɡriːn ˈkɒntrækts/
US/ˈɛvɚɡriːn ˈkɑːntrækts/

“evergreen contracts” is a form of “evergreen contract”. See that entry for the full set of meanings.

Meaning

  1. nounpluralbusinesslegal

    Agreements that renew automatically at the end of each term unless one side gives notice to cancel.

    Grammar: Plural form: evergreen contracts renew, while one evergreen contract renews.

    Patterns

    • evergreen contracts with someone
    • cancel evergreen contracts

    Many software subscriptions are evergreen contracts, so they renew every year unless you cancel.

    The company reviews its evergreen contracts each autumn to avoid unwanted renewals.

    Evergreen contracts can be convenient, but they catch people who forget the notice deadline.

Word forms

singularevergreen contract

Common combinations

sign evergreen contracts
Suppliers often ask clients to sign evergreen contracts.
cancel evergreen contracts
You must cancel evergreen contracts in writing before the deadline.
review evergreen contracts
The finance team will review evergreen contracts every quarter.
evergreen contracts renew
Evergreen contracts renew each year unless notice is given.
avoid evergreen contracts
Small firms sometimes avoid evergreen contracts to keep flexibility.

Synonyms and how they differ

auto-renewing contracts
Auto-renewing contracts is the plainer description, while evergreen contracts is business jargon for the same arrangement.
rolling contracts
Rolling contracts continue period after period, but they may need a fresh decision each time, whereas evergreen ones renew automatically.
open-ended contracts
Open-ended contracts have no fixed end date, while evergreen contracts have set terms that simply renew.

Opposites

fixed-term contracts

Word family

evergreen adjective
lasting or renewing continuously
contract noun
a legal agreement
renewal noun
the act of continuing an agreement for another period
evergreen clause noun
the contract term that makes renewal automatic

Commonly confused: evergreen contracts or fixed-term contracts?

evergreen contracts vs fixed-term contracts

Fixed-term contracts end on a set date, whereas evergreen contracts continue unless someone stops them.

Practice

The gym membership turned out to be one of those ______ that renew every year unless you give notice.

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