get-out clause
Contract exit option
A get-out clause is a provision in a contract or agreement that allows a party to withdraw or avoid obligations under specified circumstances.
It's an escape hatch built into the terms: The deal included a get-out clause if financing fell through.
British term; Americans typically say escape clause or out clause.
- way outMeans of departure
- loopholeExploitable gap in rules
- legal loopholeExploitable gap in law
- fine printMiniature contractual text
- escape routePlanned exit path
exit ramp · back door · exit strategy · Plan B · force majeure · act of God · get out of jail free · alternative · exemption · waiver · safety valve · opportunism · escape hatch · emergency exit · wiggle room · moral hazard · contractual · evasion