Contract amendments
Contract amendments: recording changes clearly
When scope, fees or duration change, identify exactly what changes and when it takes effect.
Quick answer
An amendment changes an identified existing agreement. It identifies the parties and original contract, expressly replaces or adds terms and preserves unchanged provisions. Required formalities and approvals depend on the agreement and transaction.
Original agreement
Date, parties and enough detail to identify the agreement being changed.
Express changes
New wording and effective date without contradictory versions.
Unchanged terms
State what remains in force and check necessary signatures and approvals.
How it works
Find the current version
Consider previous amendments as well as the original agreement.
List the changes
Separate altered provisions, financial effects, dates and unchanged conditions.
Review and formalize
Check required formalities and the available templates in your account.
FAQ
Is an amendment a new agreement?
It changes an identified agreement. Substantial changes to the transaction may call for a different instrument.
Can it only extend the term?
A change may be narrow, but should identify the old term, the new one and its effects on other obligations.
Is an amendment a termination agreement?
No. A termination agreement ends a relationship by agreement; an amendment records changes. The parties should choose according to their objective.
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