Jurisdiction(s):
United Kingdom

Key definition

Term definition

What does Term mean? In lending practice, the term is the length of time a loan is intended to run, from initial drawdown (or first utilisation) to the final scheduled repayment date (often called the maturity date or final repayment date). It is market usage rather than a statutory concept, and the meaning is consistent across England & Wales, Scotland, Northern Ireland and Ireland. Consumer credit rules require disclosure of the duration of an agreement, but do not redefine the term. Key features: - Also known as the tenor. - For amortising loans, the term covers the period over which instalments are scheduled; for bullet loans,...

Reasonableness of employment restrictive covenants: non-compete, non-solicitation/non-dealing and no‑poach—scope, duration, geography, garden leave, public interest, drafting and enforcement

Published by a LexisNexis Employment expert

Practice notes

This Practice Note explores the notion of ‘reasonableness’ in relation to particular kinds of employment post-termination restraints (restrictive covenants), such as territorial limitations and non-compete clauses, alongside non-solicitation, non-dealing and no-poaching (no-employment) provisions.

Since any post-termination restraint amounts to a restraint of trade agreed by contract, it will, even where validly incorporated into an employment contract (see Practice Note: Incorporation of post-termination restrictions), offend public policy and be unlawful unless:

the party seeking to uphold the restraint can show a legitimate business interest requiring protection, and
the restraint is reasonable as between the parties and accords with the public interest

For wider guidance on restraint of trade in the employment sphere, see Practice Note: Restraint of trade in employment. For further guidance on legitimate business interest, see Practice Note: Legitimate business interest.

Reasonable as between the parties

For a restraint to be reasonable in the parties’ interests, it must go no further than is necessary to provide adequate protection to the party for whose benefit it is imposed...

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Web page updated on 21/05/2026

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