What Happens if you Want out of the Contract?

breaking-a-contractLast week we blogged about the ADA contract analysis service that offers member-dentists assistance in developing a clear understanding of the obligations and expectations for all parties.

On occasion, you may wish to terminate a contract that you feel is not working for you. In many cases, it would be best to fulfill your obligations under the contract and then elect not to renew it at the end of the contract term. But in some cases, you may decide that you would like to get out of the contract before the end date.

The ADA Center for Professional Success has a feature Strategies for an Unwanted Contract in Your Dental Practice. And while the piece is not a substitute for legal advice (you should always discuss your legal options with your own attorney) you’ll find useful information to help you frame your decision.

The ADA Center for Professional Success is a member-only resource, exclusively for ADA members. And while you are there, check out the other resources including Be a Great Boss, Checklist for Terminating an Employee and Using Flexible Benefit Plans in your Practice.

4 comments

  • Thank you for this information. I will pass this one on to own legal counsel.

  • Honestly, if you don’t like the deal, just let it run out. Like you said in the article, it’s much easier.

  • It can become a real nightmare and also show that your difficult to work with. It is better “just to let it run out” and know there is a light at the end of the tunnel.

  • Signed a 5 yr lease to own agreement , but the practice is not growing because of the location and since I moved in sept 2020 ive spent at least $22k in repairs . We were burglarized 3 x and spent 2k with new door , locks , installed cameras . Building is 40 yrs old . $7950 / month which is too much for the quality of the office equipments. I’m able to pay staff utilities but not me .
    I was offered an associate position that I’ve wanted closed to my house and no management.
    There’s $25k penalty breaking the contract. Is there way I can get out ? The agreement was not notarized and the place is not worth what I’m paying for
    He’s offering me lower payments for 2 months but it’s not going to change anything

    Hope to hear from you !

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