• A contract clause is a clause in a contract, legal document, or law.

  • A contract clause often requires action to be taken by a certain date or within a certain period of time.
  • One of the most famous uses of a contract clause is a bond call clause that refers to a specific date; after this date, the company may call and withdraw the bond.
  • An expiration clause is a provision in a regulation that says that sections of the law or the entire law will expire on a set date.