An Addendum To Extend Contract is commonly used when parties wish to continue their contractual relationship beyond the original termination date. This document, governed by English and Welsh law, provides a formal mechanism to extend the duration of existing agreements while maintaining their core terms and conditions. It typically includes the extension period, any modifications to existing terms, and requires proper execution by all parties to be legally binding. This type of addendum is particularly useful for maintaining business continuity and avoiding the complexity of negotiating entirely new contracts.
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1. Parties: Identification of all parties to the original contract and addendum
2. Background: Reference to original contract and reason for extension
3. Definitions: Key terms used in the addendum
4. Extension Terms: Specific details of the contract extension period
5. Effect on Original Agreement: Statement that all other terms remain unchanged
6. Execution: Signature blocks and execution details
1. Modified Terms: Any terms being modified along with the extension, used when other changes are needed
2. Additional Consideration: Details of any new consideration, used when additional value is exchanged
3. Conditions Precedent: Any conditions that must be met before extension takes effect
1. Updated Timeline: New project or delivery schedules reflecting extended period
2. Revised Pricing: Any price adjustments for the extension period
3. Original Agreement: Copy of the original contract being extended
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