Wisconsin 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.

The Wisconsin Extended Date for Performance is a legal provision that allows parties to a contract to extend the agreed-upon performance or completion date without the risk of breaching the contract. This extension grants additional time to fulfill obligations, addressing unforeseen circumstances or delays beyond the control of the parties involved. In Wisconsin, there are two primary types of Extended Date for Performance: 1. Automatic Extension: This type of extension is triggered by external factors that affect the timely completion of a contract. Common scenarios include natural disasters, civil unrest, government interventions, labor strikes, or any event beyond the reasonable control of the contracting parties. In such cases, the Wisconsin Extended Date for Performance automatically extends the deadline for performance, providing relief to the parties involved. 2. Mutual Agreement Extension: This type of extension occurs when both parties voluntarily agree to extend the performance date beyond the originally agreed-upon time frame. It could arise due to renegotiation, unforeseen circumstances, or changes in the scope of work. This type of extension helps maintain a cooperative and collaborative relationship between the parties by allowing flexibility in the fulfillment of contractual obligations. The Wisconsin Extended Date for Performance offers essential protection for contractors, suppliers, and service providers, allowing them to overcome unforeseen challenges that could hinder the timely completion of projects or services. By providing a legal framework for extensions, Wisconsin aims to promote fairness and reduce the risk of contract breaches in cases where extenuating circumstances disrupt the performance timeline. Key benefits of the Wisconsin Extended Date for Performance include: 1. Flexibility: The provision ensures that parties have the flexibility to adjust deadlines when faced with unexpected events or circumstances beyond their control. 2. Risk reduction: By allowing extensions without penalties or legal liabilities, the provision helps mitigate the risks associated with potential contract breaches. 3. Collaboration: The provision fosters a cooperative environment between the parties, encouraging open communication and negotiation to overcome obstacles and find mutually beneficial solutions. 4. Protection: It shields contracting parties from the adverse consequences of uncontrollable situations that would otherwise lead to contractual disputes. In conclusion, the Wisconsin Extended Date for Performance is a valuable legal provision that offers flexibility and protection to contracting parties. Whether through an automatic extension triggered by external factors or a mutual agreement between the parties, this provision ensures that unforeseen circumstances do not result in contractual breaches or legal disputes.