How long does a funding agreement last?

The simple answer is ‘forever’ unless either the Secretary of State or the proprietor gives the other 7 years notice or the academy no longer meets the legal requirements for an academy or is failing.

The current model agreement provides for termination:

  1. with 7 years’ notice either way,
  2. if the academy no longer meets the basic requirements for an academy, as set out in its Funding Agreement or the Academies Act 2010,
  3. if the academy is in material breach of its fuding agreement,
  4. if a ‘special measures termination event’ occurs (in simple terms: that the academy made inadequate progress following a ‘special measures notice’ from the Chief Inspector),
  5. if the academy is insolvent, or
  6. if the acedemy trust has decided to wind itself up.

Older agreements had similar termination conditions. But, as usual, funding agreements vary, so if you are concerned about the position in a particular academy or free school, check its funding agreement.

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