A Variation Agreement is essential when parties need to modify an existing contract while maintaining its fundamental structure. Under Austrian law, this document type is commonly used when circumstances require changes to original contract terms, such as price adjustments, timeline modifications, or scope changes. The agreement must comply with Austrian Civil Code (ABGB) requirements for contract modifications, particularly regarding form requirements and mutual consent. It typically includes detailed references to the original agreement, specific variations being made, and confirmation of unchanged terms. This document is crucial for maintaining legal clarity and preventing disputes about contract modifications, especially in complex commercial relationships where precise documentation of changes is essential.
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1. Parties: Identification of all parties to the variation agreement, matching those in the original agreement
2. Background: Context of the original agreement and reason for the variation, including date and details of the original agreement
3. Definitions: Key terms used in the variation agreement, including reference to definitions in the original agreement
4. Interpretation: How the variation agreement relates to and should be read with the original agreement
5. Effective Date: When the variations take effect
6. Variations: Specific modifications to the original agreement, clearly stating what is being changed, deleted, or added
7. Confirmation: Confirmation that all other terms of the original agreement remain unchanged
8. Governing Law: Confirmation that Austrian law continues to govern
9. Execution: Signature blocks for all parties
1. Conditions Precedent: Include if the variations are subject to certain conditions being met before taking effect
2. Representations and Warranties: Include if parties need to make new or updated representations regarding the variations
3. Costs: Include if there are specific provisions about who bears the costs of implementing the variations
4. Third Party Rights: Include if the variations affect the rights of third parties under the original agreement
5. Further Assurance: Include if parties need to take additional actions to give effect to the variations
1. Schedule of Variations: Detailed list of all specific changes being made to the original agreement, with reference to clause numbers
2. Marked-up Version: Copy of the original agreement showing all changes in track changes format
3. Clean Version: Clean version of the agreement incorporating all variations
4. Ancillary Documents: Any additional documents required to give effect to the variations
5. Consent Documents: Any third-party consents or approvals required for the variations
Authors
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Relevant Industries
Financial Services
Real Estate
Manufacturing
Technology
Construction
Energy
Telecommunications
Healthcare
Retail
Professional Services
Transportation
Agriculture
Education
Hospitality
Relevant Teams
Legal
Commercial
Finance
Operations
Procurement
Risk & Compliance
Business Development
Project Management
Contract Administration
Corporate Governance
Relevant Roles
Legal Counsel
Contract Manager
Commercial Director
Project Manager
Business Development Manager
Chief Financial Officer
Operations Director
Procurement Manager
Risk Manager
Compliance Officer
General Counsel
Managing Director
Chief Executive Officer
Department Head
Account Manager
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