What is an Addendum to a Contract and when should one be used?
An Addendum to Contract is a document attached to and made part of the original contract. To put simply, an Addendum is an addition.
It can be explanatory, provide information or include additional obligations and responsibilities the parties wish to include in the contract. It enables the parties to legally revise the original contract without having to re-draft and re-negotiate an entirely new agreement.
It should be used by parties who have previously agreed to enter into a contract and mutually agree to its revision.
An addendum leaves the original contract in full force and effect, and only modifies the specific terms described within.
Contract Addendum’s can be tricky to write from scratch as contract law is very clear that all parties must abide by the contract as it stands. The goal when writing a contract addendum is to only change the parts that all parties want to change while not creating any loopholes or unintended consequences in the agreement as it stands in writing.
You should make sure that your addendum looks like and is connected to the original contract. It should use the same typeface, margins and font size.
The beginning section should list the parties to the original contract and should specify the terms and parts of the original contract that it modifies. Any deletions from or additions to the original contract should be listed in the body of the addendum as well. Be clear, thorough and concise in your writing.
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