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.

Mentioned in ?

split-fee option

References in periodicals archive ?

"They will miss options and notification dates. The cost could be huge if you miss one option because you could lose $10 million."

Preparing for year 2000 computer fix

This may be due to the fact that many notification dates did not start until his fall.