Every contract for a remodel or an addition to a home should include a termination clause. This is a simple statement that under certain circumstances, the contract can be terminated by one party or the other. For example, if you are entering into a contract with a general contractor to build an addition to your house between the dates of May 15 June 30, the contract might include a termination clause stating that if the work is not completed by July 15, you have the right to terminate the contract. Termination clauses can be written to apply to timely payments to contractors, work schedules, quality of materials used, and other specifications.

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If you found this tip helpful, you might also want to read this:
Introduction to Contracts
Contract Checklist
Make sure your contract has a note on attorney’s fees