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What is a fixed term contract and an open-ended contract?

April 26, 2017contract fixed open-ended term

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What is a fixed term contract and an open-ended contract?

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A fixed term contract is defined as: “A contract of employment that is due to end when a specified date is reached, a specified event does or does not happen or a specified task has been completed.” An open-ended contract is defined as: “A contract which is open-ended and is not fixed term, but any such contract may be lawfully terminated in various circumstances.”