Notice Period

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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 ?
NS) has said that it has cut its employees' notice periods.
Therefore, employers who have in place notice periods which exceed three months should be mindful that this could be subject to challenge.
IEmployers wishing to terminate the employment of well-paid employees on long notice periods will be advised to scrutinise the conduct of employees to see if there are grounds to justify dismissal without any notice.
Long notice periods will breed apprehension among teachers.
You have pointed out the instance of different notice periods for the employer and the employee.
Some of those applicants are already in jobs elsewhere and those jobs have notice periods although often, in sport, when a coach clearly wants to leave, a notice period will be waived or "sold" for a compensation fee.
The new card, featuring all-important stats and facts relating to employee payments and notice periods, has been produced by law specialists De Marco Solicitors in Coventry.
Two years employment service includes probation and notice periods.
By inserting notice period terms in the contract, did both parties consider and evaluate the notice issue and evince a clear intention not to provide for significantly longer common law notice periods?
Hedge funds often impose lockups and notice periods to limit the ability of investors to withdraw capital.
The council will no doubt argue that there are pros and cons to long notice periods.