Prolongation of an agreement is the extension of the term of an agreement concluded between two parties. Often this method is used by permanent counterparties with long-term cooperation. Prolongation saves you from a pile of papers, and therefore from confusion. It is also very convenient in the case of a breakdown in accounting of transactions with suppliers (buyers) by contract numbers.
Instructions
Step 1
There are two ways to renew the contract. In the first case, when drawing up the contract, you need to register the renewal period in the "Other conditions" paragraph. Then, at the end of the term, as well as in the absence of a statement from one of the parties about the termination of this agreement, this document will be automatically prolonged.
Step 2
In the second case, you can draw up an additional agreement to the contract in duplicate, where you indicate the specific period of validity of the document.
Step 3
After that, the agreement should be signed by both leaders and certified with the seals of the organizations. You keep one copy, give the second to the other party to the contract. Attach it to this contract.
