The Sales Price Change Addendum is essential when parties need to modify the original price terms of a sales agreement while keeping other contract provisions intact. This document is commonly used in the United States when market conditions, costs, or other factors necessitate a price adjustment. It includes specific details about the original agreement, parties involved, the new price terms, and effective date of the change. The addendum ensures legal compliance and provides clear documentation of the agreed modification, protecting both parties' interests.
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1. Identification of Original Agreement: Reference to the original sales agreement being modified, including date and parties involved
2. Parties: Full identification of all parties to the original agreement and this addendum
3. Price Change Details: Specific details of the price modification, including original price and new price amounts
4. Effective Date: The specific date when the price change takes effect
5. Confirmation of Other Terms: Statement confirming that all other terms and conditions of the original agreement remain unchanged
6. Signatures: Execution section for all parties to sign and date the addendum
1. Payment Terms Modification: Modifications to payment schedule or terms necessitated by the price change
2. Reason for Change: Explanation of the circumstances or reasons necessitating the price modification
3. Contingencies: Any conditions or requirements that must be met for the price change to take effect
1. Updated Price Schedule: Detailed breakdown of new pricing structure for multiple items or services
2. Payment Schedule: Revised payment timeline reflecting the new price structure
3. Supporting Documentation: Additional documentation justifying or supporting the price change
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