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A contract extension is an agreement between the original contracting parties to extend the terms of their existing contract for a further period. The period for which the extension is granted is specified in the extension agreement.
A contract extension is an agreement between the parties to an existing contract to extend the terms of that agreement for an additional period of time.
There is usually one of two reasons for extending a contract. You'll either need more time to complete the terms of the contract or you'll want to continue a strong business relationship beyond the initial terms of the contract.
I accept the offer of an extension to my fixed-term contract and agree to the new termination date of [date].
Dear [Sender's Name], Thank you for notifying me regarding the contract extension. I appreciate your transparency and the opportunity I've had to contribute to the [Project/Company Name] team.