Agreement To Extend Contract
In many situations, a contract renewal contract can be used to continue a business relationship without the need to start from scratch with an entirely new contract. If a contractual relationship is to continue beyond the duration of the initial agreement, the parties have three options: a modification of the contract allows you to modify, delete or supplement an existing contract. Learn how to change a contract and what to avoid. Your contractual relationship should not end simply because the agreement has a deadline. Whether it`s more time to meet the requirements of the contract or you just want to pursue a good business relationship, a contract renewal contract can help achieve your goals. Create a contract renewal contract to increase the duration of your existing contract. If you`re happy with an existing contract about to end or want to make a few changes that extend the termination date, it`s often easier to have a contract renewal contract than to write a brand new contract or an additional contract modification document. Your renewal contract should contain details such as: the effective date of the renewal agreement; the names and addresses of the parties concerned and their signatories; the name and date of the original contract; the end date of the original contract; the end date of the extension; and any changes to the provisions of the original document (indicate exactly which part will be modified, added or deleted). You may want to add the original document to the renewal agreement so that you can clearly see what changes have been made. Other names for this document: Contract Extension Letter, Extension of Contract Agreement For example: “The contract of 12/09/2015 expires on 11/09/2016” Adding a contract renewal contract is easier than preparing a new contract. With an extension, you will simply continue with the terms of the existing contract as well as any changes you may want to make.
Are you planning to work with an independent contractor who could be exposed to your trade secrets? Protect your company`s confidential information with an NDA. The document can begin with an introduction that contains the following details: Date: The date of conclusion of the renewal agreement must be displayed. The fact that the parties have concluded an initial contract, as well as a brief introduction to the subject matter and terms of the contract and the duration and date of its signature, should be mentioned. A valid contract renewal contract can be printed on the official header of one of the parties and signed by both parties. It generally does not deviate from existing general terms and conditions that would otherwise have required a new agreement. In short, a contract renewal agreement is an agreement that gives a longer life to the terms of a contract. It may be mentioned that the extension agreement and the annexed initial agreement constitute the entire agreement between the parties. It would not be necessary to develop a new agreement if there is an extension agreement developed and signed by both parties. .