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Gatekeeper Contract and Vendor Management Glossary

Search common contracting language and take a deeper dive to discover what each means

Glossary > R

Receivership

A receivership is appointment of a licensed Insolvency practitioner to take over the running of a business that cannot meet its financial commitments.

A receivership can also take place when litigation does not protect the rights of a Party.

Contracts often contain clauses that authorise the appointment of a receiver upon default.

You can search for Receivership Clauses within your contracts from any part of the Gatekeeper platform. 

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