Term of AFA

A typical non-construction AFA terminates upon completion and acceptance of the project, or upon termination by either party in accordance with the terms of the AFA. Currently, a non-construction AFA requires a termination date of no more than three years after its date of execution. However, prior to the termination date the date may be extended based on an amendment to the AFA executed by both parties. Once a project is terminated, it cannot be resumed unless a new AFA is executed.