When it comes to contracts, it’s crucial to understand that days on a contract usually refer to business days, not calendar days.
For example, if your finance clause, building clause, or settlement date falls on a weekend or a public holiday, it will automatically move to the next business day. We recently experienced this with a contract set to settle on the 1st of January, 2025, which is New Year’s Day. Naturally, this wasn’t going to work, so the date automatically shifted to the 2nd of January, the next business day.
Knowing this distinction can save you a lot of confusion and ensure your contract terms align with reality.
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