Mississippi Extended Date for Performance

• Category: Contracts - Extensions
• State: Multi-State
• Control #: US-02969BG
• Format: Word; Rich Text

Description

This is basically a modification of the original contract. Modification is written change made to a contract. It may be unilateral in accordance with the changes clause in the contract or bilateral. Modification may introduce or cancel specifications or terms of a contract without effecting the purpose of the contract. Unilateral modifications are changed usually through a modification order and mutually agreed change is made by a supplemental agreement. It is also called contract amendment or modification of a contract.

Mississippi Extended Date for Performance refers to a specific provision within contracts that governs the extension of project deadlines beyond the originally agreed-upon completion date. This provision can be particularly important when unforeseen circumstances arise, such as natural disasters, labor strikes, or any other event that may hinder the project's progress. Under Mississippi law, the Extended Date for Performance clause allows parties to modify the agreed-upon timeline in order to account for these unexpected delays. This provision offers protection to both parties involved in the contract, ensuring that any enforced delay does not breach the terms of the agreement. There are two primary types of Mississippi Extended Date for Performance: 1. Force Mature: Force Mature refers to unforeseeable circumstances or events that are beyond the control of the parties involved, which prevent them from fulfilling their contractual obligations. In Mississippi, common instances where force majeure may be invoked include hurricanes, floods, earthquakes, or government regulations. The Extended Date for Performance clause enables the parties to adjust the contract's completion date accordingly, to accommodate the impact of force majeure events. 2. Mutual Agreement: This type of Extended Date for Performance occurs when both parties voluntarily agree to extend the project's completion date. Unlike force majeure, which is triggered by uncontrollable events, a mutual agreement is a result of negotiations and discussions between the parties. This provision allows for flexibility in contractual deadlines if circumstances arise that warrant additional time for project completion. It is crucial for individuals and businesses entering into contracts in Mississippi to consider including an Extended Date for Performance clause. This provision safeguards the parties' interests and mitigates potential conflicts or claims arising from project delays. Whether due to force majeure or mutual agreement, having a clearly defined Extended Date for Performance provision ensures that both parties can adapt and fulfill their contractual obligations despite unforeseen circumstances.