Change or update an existing contract: Contract Amendment
What we’ll cover
What is a Contract Amendment?
When an agreement changes, it's always a smart idea to document it in writing. A Contract Amendment helps you adjust certain contract provisions without revoking the entire original agreement. Contract Amendments save you time because you don't have to start from scratch.
A Contract Amendment (sometimes referred to as a Contract Addendum, Contract Modification, or Contract Alteration) keeps things from getting confusing later on when potential questions come up about an out-of-date contract. However, multiple amendments should be avoided, especially if one amendment amends a prior amendment. Instead, a single amendment that restates and revokes all prior amendments should be prepared.
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When to use a Contract Amendment:
- You want to change one or more provisions of a contract or agreement that has already been signed and is in effect.
- You need to add or remove provisions of a contract that are in effect.
Sample Contract Amendment
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Amendment to
As of , the contract entitled between the following parties:
"" in the original contract will be amended to read as follows:
"" in the original contract will be deleted.
"" will be added to the original contract, and will read as follows:
These changes are the only changes to the original contract. The entire remainder of the original contract remains in full force. This Amendment shall be effective once signed by both all parties.
This Amendment shall be signed by the following:
| By: | Date: |
| By: | Date: |
| By: | Date: |
Amendment to Contract Checklist
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___Sign this document. This document needs to be signed by:
The Agreement can be signed online. It becomes effective as of the date specified in the Agreement.
___Everyone gets a copy. Anyone named in the document should receive a copy of the signed document. If you sign this agreement online a copy will be securely stored in your account. You can share your document from your account.
Important Details
Multiple amendments should be avoided, especially if one amendment amends a prior amendment. Instead, a single amendment should be prepared which restates and revokes all prior amendments.
About Contract Amendments
Learn about how to change or update an existing contract
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Why use a Contract Amendment and not make a new contract?
A Contract Amendment can be a valuable tool in various situations where changes need to be made to an existing contract without invalidating the entire agreement. Here are some potential scenarios where a Contract Amendment may be more appropriate than writing a new contract:
Change in terms
If the parties involved in a contract agree to modify or adjust certain terms or conditions of the original agreement, it allows them to formalize these changes without renegotiating the entire contract.
Extension of term
In cases where the duration of a contract needs to be extended beyond the original expiration date, it can be used to prolong the term of the agreement, specifying the new end date and any other relevant details.
Addition of parties
If new parties need to be added to an existing contract, such as when a business undergoes a change in ownership or when additional stakeholders become involved in the agreement, it can formally recognize and incorporate these new entities.
Change in scope
When the scope of work or obligations outlined in a contract needs to be altered or expanded, it allows the parties to revise the terms to reflect the new scope without starting the negotiation process from scratch.
Clarification of ambiguities
If there are ambiguities or uncertainties in the language of the original contract that need to be clarified or resolved, it can be used to provide clarification and prevent misunderstandings or disputes in the future.
Correction of errors
In cases where errors or omissions are discovered in the original contract, it can be used to rectify these mistakes and ensure that the agreement accurately reflects the intentions of the parties involved.
Change in legal requirements
If changes in laws or regulations necessitate adjustments to the terms of a contract to ensure compliance, it can be used to update the agreement accordingly, helping to mitigate legal risks and liabilities.
Resolution of disputes
In situations where disagreements arise between the parties regarding the interpretation or enforcement of certain provisions in the contract, it can be negotiated to resolve the dispute and maintain the integrity of the agreement.
Adjustment of pricing or payment terms
If changes in market conditions or financial circumstances require adjustments to the pricing, payment terms, or other financial aspects of the contract, it can formalize these modifications while preserving the overall structure of the agreement.
Termination or cancellation
In cases where the parties wish to terminate or cancel certain provisions of the contract, it can be used to document the agreement to end specific obligations or terminate the contract entirely, providing clarity and closure to the parties involved.
In each of these scenarios, a Contract Amendment serves as a practical and efficient means of modifying an existing contract to accommodate changing circumstances, protect the interests of the parties involved, and ensure the continued effectiveness of the agreement.
Still have questions? Don’t hesitate to ask a Legal Pro.
Contract Amendment FAQs
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What is it called when you make changes to a contract?
When you make changes to a contract, you can call it a Contract Amendment or Contract Modification.
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How do you write a Contract Amendment?
A Contract Amendment is simple to make online. Once you've answered some questions, Rocket Lawyer will build your document for you. Think about the following questions before starting your Contract Amendment to make the process faster and easier:
- What is the name of the original contract or agreement that is being amended?
- What kinds of changes are being made to the original contract?
- What section or provision will be edited, added, or deleted in the amended contract?
- What will be the effective date of this amendment?
If you've started your Contract Amendment and find that you don't have all the information you need, you can save the document and finish it later.
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Do both parties need to agree to a Contract Amendment?
Yes, for a Contract Amendment to be valid, all parties involved in the original contract must agree to the proposed changes. This usually requires the parties to sign the amendment document to indicate their consent.
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What is an amendment to a Real Estate Contract?
An amendment to a Real Estate Contract will allow you to change the basic terms in a contract for the purchase of real property after it has been signed and finalized.
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What is the difference between a Contract Amendment and a Contract Modification?
A Contract Amendment can also be called a Contract Modification. They are basically the same thing.
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Is a Contract Amendment the same as a Contract Extension?
While a Contract Amendment can include provisions for extending the duration of the contract, they are not necessarily the same. A Contract Extension specifically extends the timeframe of the original agreement, while a Contract Amendment can make various changes beyond just extending the term.
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