Extending Existing Contract For 5 Years
Description
How to fill out Checklist For Modifying Or Extending And Existing Contract?
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FAQ
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.
An agreement to extend a contract can be accomplished in one of three ways: By a contract extension letter signed by both parties. This is a simple document, which may consist of only a few sentences. By an exchange of letters between the parties. ... By both parties' signing a simple contract extension agreement.
Additionally, you should state your intention to renew the contract and the reasons why, as well as provide a summary of the main terms and conditions of the renewal, such as the duration, scope, fees, payment terms, and termination clauses.
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.
Make sure the title of the new document makes clear that it is an addendum with reference to the original contract's name and date. Include the date the addendum is being added. Name all parties that the addendum is in reference to and the date when the new changes will take effect.
