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Notification Date

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Notification date
The day the option is either exercised or expires.
Notification Date
1. The date by which one party to a contract must inform the other of the former's intent to either renew or withdraw from the contract. This especially applies to housing leases, marketing contracts, and long-term business arrangements. Some contracts renew automatically if neither party cancels by the notification date, while others require notification either way. For example, a rental agreement ending on August 1 may contain a requirement that the renter inform the landlord by May 1 whether or not he/she intends to renew the lease.

2. In options, see expiration date.


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