This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
New Jersey Agreement to Extend Performance Date of Contract is a legally binding document that allows parties to extend the performance date specified in a contract. This agreement is typically used when unforeseen circumstances arise that prevent one or both parties from fulfilling their obligations within the originally agreed-upon deadline. By entering into this agreement, the parties demonstrate their willingness to cooperate and find a mutually beneficial solution to accommodate the changes in circumstances. There are two common types of New Jersey Agreements to Extend Performance Date of Contract: 1. General Extension Agreement: This type of agreement is used when both parties agree to extend the performance date due to reasons such as delays in material procurement, construction setbacks, or unexpected legal hurdles. By signing this agreement, the parties acknowledge the delay and agree to a new deadline that allows for the completion of the contractual obligations. 2. Force Mature Extension Agreement: This type of agreement is utilized when unforeseen and uncontrollable events, often referred to as force majeure events, occur and hinder the fulfillment of contractual obligations. Examples of force majeure events include natural disasters, acts of terrorism, war, or government actions. By signing this agreement, the parties agree to extend the performance date to account for the time lost due to the force majeure event. In both types of agreements, it is crucial for the parties to clearly outline the reasons for requesting the extension, specify the new performance date, and detail any adjustments to the contract terms, such as potential penalties or additional fees for the delay. The agreement should also include provisions for the termination of the extension if it becomes unlikely or impossible to complete the contract even with the extension granted. Additional keywords: contract extension, New Jersey contract law, performance date modification, unforeseen circumstances, cooperation, contractual obligations, deadline adjustment, mutual agreement, legal document, extension reasons, force majeure events.
