Notice Period


Also found in: Acronyms.

Notice Period

The time during which the buyer of a futures contract can be called upon to accept delivery. Typically, the 3 to 6 weeks preceding the expiration of the contract.

Notice Period

1. In futures trading, the period of time before the expiration of the future contract during which the buyer may be called upon to accept receipt of the underlying. The specific length of the notice period varies and is set in the contract, but is generally three to six weeks prior to the contract's expiration. See also: Settlement date.

2. A period of time before which an employee, by contract or by courtesy, must inform his/her employer of his/her intention to leave the current job. If no specific notice period is set in a contract, then it is usually assumed to be two weeks. However, notice periods may be set to as long as six months or one year.
References in periodicals archive ?
You will get either: | all your notice pay at once and have your job end straightaway - this is called pay in lieu of notice; or | be paid as usual until the end of your notice period without having to go to work - this is called garden leave.
Where the employment contract is of unlimited duration, the employee may seek to terminate the employment contract by serving a notice period.
NS) has said that it has cut its employees' notice periods.
euro]16k Average given to each of Central Bank's 28 staff to extend notice period
Article 4A's notice period provides a one-year time limit (triggered from receipt of a bank statement identifying the disputed funds transfer) for the customer to notify the bank of an unauthorized transaction.
Where a limited term contract is renewed and no notice period is agreed, the default position will be a notice period of 3 months.
The gratuity is payable at the end of the notice period.
The board told the Stock Exchange the manager's salary will increase to PS750,000-a-year as he works his 12-month notice period.
In case of employees who signed a contract with their employers, the notice period will be subject to the contractual provisions and this shall be binding on both parties.
Chief inspector Ann Keane said the length of time schools have to prepare for Estyn inspections was "under active consideration" and warned the mandatory notice period could be scaled back in the future.
REDUNDANCY COSTS (WEEKS OF SALARY) Notice period for redundancy dismissal (for a worker with 1 4.
THE SPORTS Authority of India ( SAI) has decided to utilise the services of Micahel Nobbs during his notice period.