How Do You Spell FLEXIBILITY PROVISION?

1. Flexibility provision refers to a clause or stipulation within a contract, agreement, or legal document that allows for adaptability or adjustments to be made under certain circumstances or conditions. It is a measure designed to accommodate change and ensure the feasibility and relevance of the terms and conditions set forth in the document.

   This provision grants parties involved with the ability to modify, amend, or deviate from specific terms, obligations, or restrictions outlined in the document, should circumstances require it. The purpose of a flexibility provision is to mitigate potential risks, uncertainties, or unforeseen events that may arise during the course of the contractual relationship. It offers a degree of freedom to adjust the agreement as circumstances evolve, without necessarily invalidating or terminating the entire contract.

   The flexibility provision specifies the conditions or triggers under which modifications or adjustments can be made, as well as the procedures or mechanisms to be followed in implementing such changes. These triggers may include changes in market conditions, regulatory requirements, technology advancements, or other factors that significantly impact the original intent or viability of the agreement.

   The inclusion of a flexibility provision in a contract ensures that the agreement remains relevant and practical over time. It allows parties to navigate unforeseen circumstances without having to resort to litigation or termination. By providing a mechanism for flexibility, this provision contributes to a more cooperative and adaptable business relationship between the parties involved.

Common Misspellings for FLEXIBILITY PROVISION

The etymology of the word "flexibility provision" is derived from combining the words "flexibility" and "provision".

- Flexibility: This word comes from the Latin word "flexibilis", which means "capable of being bent". The term "flexibility" refers to the ability to adapt, modify, or change to suit different circumstances or conditions.

- Provision: This word is derived from the Latin word "provisio", meaning "foresight" or "preparation". "Provision" refers to the act of providing or making arrangements for something, often in anticipation of a future need or requirement.

When these two words are combined, "flexibility provision" refers to a clause or condition included in an agreement, contract, or law that allows for possible adaptation or adjustment to meet changing circumstances or needs.

Plural form of FLEXIBILITY PROVISION is FLEXIBILITY PROVISIONS