SPECIFY TERM AND TERMINATION
The ability for a vendor to terminate your software license may completely suspend your business or may impact how you transition to new available software. Some termination considerations:
• What is the term of the agreement and the software license?
• Is the software provided under a perpetual irrevocable license?
• Is it provided under a subscription model with monthly or annual terms? • What rights do the parties have to terminate the agreement and/or license?
• What obligations remain after termination?
• How and when will your data be returned or transferred to another provider?
Make sure that the vendor cannot suspend service or use during any dispute. If system is outsourced or hosted make sure you cover the transition assistance necessary to move back to your site or to another provider.
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