Conclusion of Contract
Expiration of Contract
Contracts with Launch are generally established for a specified term, as outlined in the contractor agreement. At the conclusion of the contract’s term, the agreement will end unless renewed or extended by mutual consent. Contractors are encouraged to complete all final deliverables and transition tasks as outlined in their agreement or as requested by Launch to ensure a smooth conclusion of services.
Voluntary Termination by Contractor
While Launch values its relationships with contractors, we understand that circumstances may lead contractors to end their agreement early. Contractors who wish to terminate their contract prior to the expiration date are encouraged to wrap things up professionally to ensure no harm comes to Launch or its clients, before their intended end date. This notice helps ensure a smooth transition and allows time for any necessary handoff of responsibilities.
Early Termination by Launch
Launch reserves the right to end a contractor agreement early if necessary. Early termination may occur under the following circumstances:
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For Convenience: Either party may terminate the agreement early with prior written notice, as specified in the contract terms, without the need to provide cause.
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For Cause: Launch may terminate the agreement immediately if the contractor:
- Fails to meet performance expectations or deliverables.
- Breaches contract terms or confidentiality agreements.
- Violates company or program policies.
- Engages in prohibited, unethical, or unlawful behavior.
In cases of early termination, contractors are expected to complete any final deliverables or transition tasks as outlined in the agreement.
Failure to Fulfill Contractual Obligations
If a contractor fails to fulfill their contractual obligations or ceases communication with Launch for three (3) consecutive workdays without prior notice or a valid explanation, this will be treated as a voluntary termination of the contract. Contractors are expected to notify their designated point of contact as soon as possible if they are unable to meet their contractual commitments.
Launch will make reasonable attempts to contact the contractor before determining that the agreement has been abandoned. If extenuating circumstances prevented communication, contractors should provide documentation to support their case promptly.
Return of Company Property
Contractors are required to return all company-owned property at the conclusion of their contract or upon request. This includes, but is not limited to:
- Computers, electronic devices, and other equipment.
- Documents, client work products, passwords, and other proprietary materials.
All property provided by Launch Industries is issued solely for the completion of contracted work. Contractors must not copy, retain, or distribute company property or confidential information after the contract concludes.
If a contractor fails to return company-owned property, Launch reserves the right to deduct the cost of the unreturned items from any pending payments, as permitted by applicable laws and the contractor agreement. Violations of this policy may result in legal action to protect the company’s interests.
Final Payments
Contractors will receive final compensation for completed and approved deliverables, as outlined in the terms of their contractor agreement. If there are any outstanding loans or unreturned company property, these amounts may be deducted from the final payment, in compliance with applicable laws.
Launch will process the final payment within the timeframe specified in the contractor agreement, ensuring a smooth transition at the conclusion of the engagement.
HANDBOOK UPDATES?
If you notice any outdated information or typos, or need
clarification on any policies, please email hr@launchindustries.biz.