When two parties enter into a legal contract, they are legally bound to abide by the provisions of the written agreement. But, circumstances change, and contracts must occasionally be revised. In most cases, there is no need to draft a totally new contract. A contract may be easily amended as long as the original parties consent to the modifications.
A Contract Amendment document is used to change the conditions of a previously signed contract. Using this document, you may add to, subtract from, correct, or otherwise change the original agreement.
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These are some factors to keep in mind while drafting a Contract Amendment:
Resist making many revisions to your contract, particularly if one of them modifies another. Instead, draft a single amendment that restates and repeals all previous amendments.
To minimize any misunderstandings, repeat the complete term or paragraph of your contract rather than just removing, adding, or modifying a section of it.
After you’ve finished the Contract Amendment form, don’t forget to date it, make sure it’s signed by the parties who signed the original contract, and distribute copies to these parties and anybody else who had a copy of the original contract.
