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.