Extension Existing Contract For Employment
Description
How to fill out Checklist For Modifying Or Extending And Existing Contract?
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FAQ
Contract extension typically means an existing contract is continued for a period of time. Often, this will occur via the extension options in the contract. At the time a contract is extended, other terms might also be varied (such as pricing).
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.
All parties to the contract must be contacted to okay a contract extension. Not only do they need to know that they've been given the option to extend the term of the contract, but they should have the chance to discuss any changes. Remember, an addendum to a contract needs to be signed by all parties.
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. The duration of the extension is specified in the extension agreement. In some cases, the extension does no more than extend the termination date of the contract.
In consideration of the parties' mutual promises and for other good and valuable consideration, the parties agree to vary the Contract as follows: The parties agree to extend the term of the Contract for <<X years/months>> to <<insert new date where contract is due to expire>>.
