Bonus clause - Misplaced Pages

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Contract law

Formation
Capacity Offer and acceptance Meeting of the minds Abstraction principle Posting rule Mirror image rule Invitation to treat Firm offer Consideration Implication-in-fact Collateral contract
Defences
Misrepresentation Mistake Threats and unequal bargaining power Illegality and public policy Unconscionability Culpa in contrahendo Force majeure Frustration of purpose Impossibility Impracticability Hardship Set-off Illusory promise Statute of frauds Non est factum Unclean hands Accord and satisfaction Exculpatory clause
Interpretation
Parol evidence Contract of adhesion Integration clause Contra proferentem UNIDROIT Principles
Dispute resolution
Choice of law clause Forum selection clause Hague Choice of Court Convention Arbitration New York Convention UNCITRAL Model Law Mediation Singapore Mediation Convention Enforcement of foreign judgments Hague Judgments Convention
Rights of third parties
Privity of contract Assignment Delegation Novation Third-party beneficiary
Breach of contract
Anticipatory repudiation Cover Exclusion clause Efficient breach Deviation Fundamental breach
Remedies
Specific performance Money damages Liquidated, stipulated, or penal damages Rescission
Quasi-contractual obligations
Promissory estoppel Quantum meruit Unjust enrichment Restitution Negotiorum gestio
Duties of parties
Duty of honest contractual performance (or doctrine of abuse of rights) Duty of good faith (also implied covenant of good faith and fair dealing or duty to negotiate in good faith) Contract A and Contract B in Canadian contract law
Related areas of law
Conflict of laws Commercial law
By jurisdiction
Australia Canada China (mainland) Ireland India Saudi Arabia United Kingdom England and Wales Scotland United States
Other law areas
Tort law Property law Wills, trusts, and estates Criminal law Evidence
Notes
1 Specific to common law jurisdictions 2 Specific to civil and mixed law jurisdictions 3 Historically restricted in common law jurisdictions but generally accepted elsewhere; availability varies between contemporary common law jurisdictions 4 Specific to the German Bürgerliches Gesetzbuch and other civil codes based on the pandectist tradition 5 Explicitly rejected by the UNIDROIT Principles of International Commercial Contracts 6 Specific to Canadian contract law both in Québec and in the country's common law provinces 7 Specific to civil law jurisdictions, the American Uniform Commercial Code, and Canadian jurisprudence in both Québec and the common law provinces pertaining to contractual and pre-contractual negotiation
v t e

A bonus clause is a clause in a contract that rewards the contractor for doing more than the letter of the contract; particularly, to finish the job early. It is in apposition to a penalty clause where the contractor loses by providing less than the letter of the contract, or providing it later than agreed.

The aim of a bonus clause is to give a win-win situation whereby the contractor wins by getting more money for finishing early, and the holder of the contract wins by having a product earlier to market.

References

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