Time of the Essence Clause

Summary

This time of the essence clause may be used to address timely delivery of goods in a commercial contract. This clause includes practical guidance and drafting notes. A time is of the essence clause allows a party to insist on strict compliance with deadlines, schedules and other requirements under a commercial contract (i.e., the timely delivery of goods). Failure to timely perform or late performance would render a breach of this provision material. For a full listing of related contract clauses, see General Commercial Contract Clause Resource Kit. For more information regarding time of the essence in general, see Time is of the Essence Clauses in Commercial Contracts. For more non-jurisdictional time for delivery clauses, see Delivery Provisions Clauses.