As used in this context I believe “execution” is more than a simple lien on the supplier’s assets, and here it does not refer to a prejudgment attachment of the supplier’s assets, but rather to executing (or enforcing) a judgment rendered against him after those assets have been attached and placed at the disposal of the court, (usually) by converting his assets into cash to satisfy that judgment. Many contracts state that “this agreement may be terminated if (name of Party) has execution levied against him/her/it” meaning that a money judgment has been rendered against the party and his assets will be used to execute or enforce that judgment.


Here are some examples:

“This Agreement may be terminated by either party upon twenty four hours notice if the other party (being an individual) has a receiver appointed of the whole or a substantial part of his assets or if he becomes bankrupt or has execution levied against him.”

“If the Customer goes into liquidation, suffers distress, has execution levied against its goods or effects or makes an arrangement with its creditors, commences winding up (other than for the purposes of amalgamation or reconstruction) or if a receiver or administrator is appointed for the whole or any part of its undertaking, or if a receiving order in bankruptcy is made against it, the Company may elect to treat the Contract as immediately terminated.”

“The Company may terminate this Agreement with immediate effect if the Contractor:
(a) breaches any term of this Agreement or
(b) has a liquidator, administrator, receiver or receiver
and manager appointed to it or any of its assets,
(c) enters into a scheme of arrangement (other than for
the purposes of a solvent reconstruction) or
(d) has execution levied against any of its property
(e) breaches the Company Polices and “Site” clause
above”