A boilerplate clause providing that specified contractual time limits give rise to a right of termination if missed. Guidance is provided on using the clause under the laws of China, Hong Kong, and England and Wales.

(For a clause-by-clause guide to the value of boilerplate clauses and the effect of omitting them from business-to-business contracts, see Practice Note, Boilerplate: Do I Really Need This Clause and Why?.)

This clause is adapted from a boilerplate clause designed for use in documents governed by English law, which can be found at Practical Law UK, Standard Clause, Time of the Essence.

This standard clause is available in Chinese. To download a Word version of this standard document in Chinese, click Standard Clause, Time of the Essence: China (Chinese Language Version).