Earlier this month, Google Cloud experienced one of its biggest blunders ever when UniSuper, a $135 billion Australian pension fund, had its Google Cloud account wiped out due to some kind of mistake on Google’s end. At the time, UniSuper indicated it had lost everything it had stored with Google, even its backups, and that caused two weeks of downtime for its 647,000 members. There were joint statements from the Google Cloud CEO and UniSuper CEO on the matter, a lot of apologies, and presumably a lot of worried customers who wondered if their retirement fund had disappeared.
UniSuper’s mistake was relying too much on Google Cloud even for critical backups.
Unless I’m misunderstanding it myself, fixed term means they had a set period of time that’s not up for renewal. Ergo, when the term runs out, that’s it. There’s no chance of delinquency because there’s no additional payments.