closed-ended contract
[/kloʊzd ˈɛndəd ˈkɑntrækt/]
nounpl: closed-ended contracts
contrato de prazo determinado
1. A contract with a fixed end date and specific terms that cannot be easily modified or extended without renegotiation
The closed-ended contract runs for exactly two years with no automatic renewal clause.
O contrato de prazo determinado tem duração exata de dois anos sem cláusula de renovação automática.
2. In finance, a loan or investment agreement with a predetermined maturity date and set terms
The bank offered a closed-ended contract for the mortgage with a fixed 30-year term.
O banco ofereceu um contrato de prazo determinado para a hipoteca com prazo fixo de 30 anos.
3. A contract that limits the scope of work or services to clearly defined deliverables
The consulting firm signed a closed-ended contract that specified exactly what projects would be completed.
A firma de consultoria assinou um contrato de prazo determinado que especificava exatamente quais projetos seriam concluídos.
In Brazil, closed-ended contracts are commonly used in employment law (contratos por prazo determinado) and are regulated by labor laws that specify maximum duration periods. In the USA, these contracts are prevalent in real estate, finance, and consulting sectors. The term reflects legal formality and is frequently encountered in corporate and governmental contexts in both countries.
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