Guam Sample Letter regarding Modification Agreement
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FAQ
Because a modification changes or alters the contents of an existing contract, a modified contract may differ from the existing contract in its contents. But the overall purpose and effect of the existing contract will in general remain intact after modification.
A contract modification could change the scope of the contract, the price of the contract, or both. A contract modification exists when the parties to the contract approve the modification either in writing, orally, or based on the parties' customary business practices.
Modification Agreement means the written order to the Contractor signed by the County authorizing an addition, deletion, or revision in the goods, Services and/or Work to be provided under the Contract Documents or an adjustment in the Contract Price issued after execution of the Agreement.
A modification of contract is any change, in part or whole, occurring to a legally binding agreement between two or more parties. Any contract can be modified before or after signing the agreement, but all parties must agree to the changes. If any party doesn't agree to the modification, the changes are invalid.
MODIFY-make partial changes to (something) to improve it. AMEND-make minor changes to (a text, piece of legistration) in order to make it more accurate. Different contexts or collocations, usually.
