Home > Term: acceleration clause
acceleration clause
A provision sometimes used in contracts to accelerate deposit payment schedule or to demand full prepayment of master account in the event of a default or lack of credit by the organization. May also apply in other situations, such as assignments. Sometimes used in a hotel to accelerate deposit payment schedule or to demand full prepayment of master account in the event of a default by organization.
- Part of Speech: noun
- Industry/Domain: Convention
- Category: Conferences
- Company: CIC
0
Creator
- Apxhbt
- 100% positive feedback