The Addendum To Purchase Agreement Template serves as a crucial tool for parties who need to modify their original purchase agreement without creating an entirely new contract. This document is commonly used across the United States when circumstances require changes to price, delivery terms, specifications, or other contract elements. It must comply with both federal and state contract laws, including the Uniform Commercial Code where applicable. The addendum becomes legally binding when properly executed by all parties involved in the original agreement and should clearly reference the original purchase agreement's date and terms.
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1. Parties: Identification of all parties to the original agreement and addendum
2. Background: Reference to original agreement and reason for addendum
3. Definitions: Key terms used in the addendum, including reference to definitions in original agreement
4. Modifications: Specific changes being made to the original agreement
5. Ratification: Statement that all other terms of original agreement remain in effect
6. Execution: Signature blocks and date of addendum
1. Additional Terms: New terms being added to original agreement - use when introducing completely new provisions
2. Price Adjustment: Changes to original purchase price - use when modifying financial terms
3. Timeline Modification: Changes to delivery or performance dates - use when adjusting schedules or deadlines
4. Contingencies: New or modified conditions that must be met - use when adding or changing conditional terms
1. Schedule A - Modified Terms: Detailed list of specific modifications to original agreement
2. Schedule B - Revised Pricing: Updated pricing details if applicable
3. Schedule C - Revised Timeline: Modified delivery or performance schedule
4. Appendix 1 - Original Agreement: Copy of the original purchase agreement being modified
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