Has anyone ever been offered an open ended contract?
i.e. no specified duration, it just continues until terminated (4 weeks notice either side). The project has potential to last 18-24 months.
Pros:
1. potential to last a long time
2. no need for renewals
3. some mortgage lenders may see it positively as an ongoing contract / more certainty?
Cons:
1. IR35 risk? (not sure)
2. no renewals means no natural prompt to renegotiate rates
3. other mortgage lenders may think it's risky? (although fixed term contracts usually have the same 4 weeks notice anyway)
Thoughts welcome, I haven't come across this
before!
i.e. no specified duration, it just continues until terminated (4 weeks notice either side). The project has potential to last 18-24 months.
Pros:
1. potential to last a long time
2. no need for renewals
3. some mortgage lenders may see it positively as an ongoing contract / more certainty?
Cons:
1. IR35 risk? (not sure)
2. no renewals means no natural prompt to renegotiate rates
3. other mortgage lenders may think it's risky? (although fixed term contracts usually have the same 4 weeks notice anyway)
Thoughts welcome, I haven't come across this
before!
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