Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Acceleration definition

What does Acceleration mean? Acceleration is the contractual mechanism by which a lender (or bond trustee) can require immediate repayment of all sums outstanding after an event of default. It is not defined by statute; its content is set by the facility agreement, trust deed or other finance documents and applied under contract law. Acceleration is typically either (i) optional, exercised by written notice (an acceleration notice), or (ii) automatic on specified triggers, commonly non‑payment, insolvency, breach of covenants, misrepresentation, illegality or cross‑default. Once declared, amounts due include outstanding principal, accrued and default interest, fees, break costs and any “all monies” liabilities (including under...

Building Contract Acceleration Deed (English law): Programme, Completion Date and Payment Adjustments

Published by a LexisNexis Construction expert

Precedents

Date

[ insert date of Agreement ]

Parties

[ insert name of Employer ] of [ insert address ], a Company registered in England and Wales under number [ insert company registration number ] (the 'Employer')
[ insert name of Contractor ] of [ insert address ], a company registered in England and Wales under number [ insert company registration number ] (the 'Contractor')

Whereas

The Employer and the Contractor have concluded a contract for the [ design and ] construction of a [ insert brief description of the project ] at [ insert location of site ] (the 'Building Contract').
[ There has been a delay to the progress of the works under the Building Contract OR The Employer has increased the scope of works under the Building Contract OR The Employer wishes to shorten the period for the completion of the works ].
Accordingly, the parties agree to expedite the progress of the works in line with the terms of this Agreement...

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Web page updated on 22/05/2026

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