Some companies use contracts in their work, and cooperation with certain counterparties can be long-term. In order not to conclude a new one every time after the expiration of this agreement, it is advisable to use the prolongation of the agreement, that is, its extension.
Instructions
Step 1
In order for the contract with the counterparty to be automatically renewed after the expiration of the validity period of the document, you need to register in the "Other conditions" clause when concluding the transaction that the contract is automatically renewed for a certain period. In this case, be sure to write that this condition is valid in the event that the desire to complete the cooperation did not come from either side.
Step 2
Also, be sure to indicate the renewal period of this agreement, but do not make it too long, the best option would be a year. It should also be borne in mind that either party can terminate the contract at any time by submitting an application.
Step 3
There is another way to extend the contract - this is to draw up an additional agreement on the extension. It should be drawn up before the expiration date of the document. Make an agreement in any form, but be sure to indicate the renewal period, the details of both parties and, if necessary, amend other conditions.
Step 4
This agreement, as well as the agreement, is signed by both parties, and the blue seal of the organizations is put. The document is drawn up in two copies, one of which is transferred to the supplier (performer), and the second - to the buyer (customer).
Step 5
Additional agreement on prolongation must be attached to this agreement. Remember that it has the same legal force as the contract itself, and those conditions that have been changed become invalid in this contract.
Step 6
The additional agreement on prolongation takes effect from the moment when the term of this agreement ends. This should be taken into account in the event that there are other conditions in the agreement, since they also come into force after the document is valid.
