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Extension of Agreement
An Extension of Agreement is nothing but an agreement which gives further validity to a contract by extending the time period of original agreement. It is used when the parties want to continue an existing contract which is about to cease. Creating a whole new agreement again is lengthy procedure. Instead of drafting a new contract, change in the termination period can be made as agreed among the parties. In short, the date of termination of the existing contract is simply pushed further. This option is usually favorable in a situation where a contract has been agreed upon, but both parties are unable to carry out their performance obligations within the stipulated time period as originally agreed.
ComplianceIndia can help you obtain your draft format of Extension of agreement quickly and hassle-free.
How to proceed?
We will provide the draft format on request which can be used by the business party to prepare and finalise the Extension of agreement. Such Agreement should include effective date of extension agreement, name and address of the Parties involved, end date of Original Contract, duration of the Extended Agreement, and any amendments to the terms and conditions of the Original Agreement.
Let us provide a draft personalized and customized copy of Extension of agreement to you based on your needs.