In the business, there are many situations where an organization requires making an alteration in their existing agreements. This can happen for many reasons, but whatever the reason is, it requires some documentation for adding the changes to the existing contracts.
What is an Addendum to Contract?
The Addendum to Contract is a legal document for making alterations to the existing contract. It helps to modify the existing contract by altering the present conditions or adding some new clauses to the agreement. It does not disturb the powers of the original agreement, but deals with the specific terms that are state din the addendum. It is practiced whenever the amendments are required to the original agreement. The Addendum to Contract is prepared by the consent of both the parties included in the original agreement. It is not only useful for making amendments to the terms and conditions, but also used for adding any new entity in the existing agreement. The Addendum to Contract Templates are available that are easy to customize according to the need of the situation or organization.
How to Write a Contract Addendum
It must include the following points.
- In the opening clause, it must be clearly mentioned the entities of the addendum along with the date
- The existing agreement must be referenced clearly
- The consent of all the entities to the addendum must be stated prominently
- Describe all the amendments in a comprehensive way and include all the aspects of the changes that are going to be made.
- State the terms and conditions each in a new paragraph
- Define the terms for dealing with any violation of the new terms and conditions
- Get the addendum signed by all the parties included in the contract. Mention the names and date clearly along with signatures
- Also get the signatures of witnesses
Create your own Addendum To Contract by using the following template,
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Download Addendum To Contract Template in DOC, ODT and PDF Format.