Amendment
What Is an Amendment?
Amendments are changes that are made to an existing legal contract with the agreement of all parties involved. This allows those bound by the agreement to make alterations to any of the following details:
- Data about one of the parties (if incorrect or outdated)
- Deadlines
- Contract expiry dates
- Clauses
- The wording
Knowing how and when contract amendments can be used will be important if any changes to the original agreement occur for any reason. Read on below to learn how to amend your contract and how these alterations contrast with other similar tools like addendums.
How to Amend a Contract
You cannot alter an existing contract without the agreement of the other parties, so you should discuss the amendments with them first. If they are in favor of the changes, you will need to take one of the following possible steps:
- Send the other signing parties a contract amendment letter to list the changes you wish to make. This should then be signed by both parties.
- Update the contract template with the changes you want to make and have the parties sign the amended agreement.
- Add a signed amendment page to the end of the current contract.
This process can either be done yourself or with the help of a lawyer. However, it is advised to consult a legal expert if you plan to make fundamental or intricate changes to the wording of the agreement before signing.
Addendums Vs. Amendments
There are many similarities between addendums and amendments but they are not entirely the same things.
Firstly an amendment is a fundamental change to the terms of the original existing contract. This is written into the legal document itself and requires a new signature from the parties for the contract to continue in force.
Alternatively, an addendum is the addition of a brand new clause or term of the agreement. This doesn’t change the nature of the original contract, which remains in place unless overridden by the language of the new document.
Get Your Free Lease Addendum Template
Helpful Resources:
Kira Systems - How to Amend a Contract
LegalNature - Amending A Contract: When And Why
What Is an Amendment?
Amendments are changes that are made to an existing legal contract with the agreement of all parties involved. This allows those bound by the agreement to make alterations to any of the following details:
- Data about one of the parties (if incorrect or outdated)
- Deadlines
- Contract expiry dates
- Clauses
- The wording
Knowing how and when contract amendments can be used will be important if any changes to the original agreement occur for any reason. Read on below to learn how to amend your contract and how these alterations contrast with other similar tools like addendums.
How to Amend a Contract
You cannot alter an existing contract without the agreement of the other parties, so you should discuss the amendments with them first. If they are in favor of the changes, you will need to take one of the following possible steps:
- Send the other signing parties a contract amendment letter to list the changes you wish to make. This should then be signed by both parties.
- Update the contract template with the changes you want to make and have the parties sign the amended agreement.
- Add a signed amendment page to the end of the current contract.
This process can either be done yourself or with the help of a lawyer. However, it is advised to consult a legal expert if you plan to make fundamental or intricate changes to the wording of the agreement before signing.
Addendums Vs. Amendments
There are many similarities between addendums and amendments but they are not entirely the same things.
Firstly an amendment is a fundamental change to the terms of the original existing contract. This is written into the legal document itself and requires a new signature from the parties for the contract to continue in force.
Alternatively, an addendum is the addition of a brand new clause or term of the agreement. This doesn’t change the nature of the original contract, which remains in place unless overridden by the language of the new document.
Get Your Free Lease Addendum Template
Helpful Resources:
Kira Systems - How to Amend a Contract
LegalNature - Amending A Contract: When And Why