The Extension Letter is a crucial document used in New Zealand business practice when parties wish to continue their contractual relationship beyond the original termination date. This document type is particularly valuable when the original agreement remains suitable in all aspects except duration. The Extension Letter should clearly reference the original agreement, specify the new termination date, and confirm whether any other terms are modified. Under New Zealand law, this document must comply with the Contract and Commercial Law Act 2017 and maintain consistency with the original agreement's terms. The Extension Letter is commonly used in various situations, from lease extensions to service agreement continuations, providing a streamlined alternative to drafting a completely new agreement.
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1. Letter Header: Including date, sender's details, recipient's details, and reference to original agreement
2. Original Agreement Reference: Clear identification of the agreement being extended, including its date and parties
3. Extension Terms: Specific details of the extension period and effective date
4. Confirmation of Other Terms: Statement confirming all other terms of the original agreement remain unchanged
5. Execution Block: Signature blocks for all parties to confirm acceptance of the extension
1. Modified Terms: Include when any terms other than the duration are being modified as part of the extension
2. Conditions Precedent: Include when the extension is subject to certain conditions being met
3. Consideration Statement: Include when there is a specific consideration for the extension
4. Regulatory Compliance: Include when extension requires specific regulatory acknowledgments or compliance statements
1. Updated Timeline: Schedule showing the new dates and milestones if the extension affects multiple dates or deliverables
2. Modified Terms Schedule: Detailed list of any terms being modified, if changes are extensive
3. Updated Pricing Schedule: If the extension involves price changes or new payment terms
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Construction
Information Technology
Professional Services
Manufacturing
Retail
Healthcare
Education
Financial Services
Telecommunications
Energy
Transportation and Logistics
Relevant Teams
Legal
Commercial
Procurement
Operations
Contract Administration
Business Development
Compliance
Property Management
Project Management
Account Management
Relevant Roles
Contract Manager
Legal Counsel
Commercial Manager
Business Development Manager
Operations Manager
Procurement Manager
Project Manager
Account Manager
Relationship Manager
Compliance Officer
General Manager
Chief Executive Officer
Chief Operating Officer
Facility Manager
Property Manager
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