How To Extend The Term Of The Contract

Table of contents:

How To Extend The Term Of The Contract
How To Extend The Term Of The Contract

Video: How To Extend The Term Of The Contract

Video: How To Extend The Term Of The Contract
Video: FIFA 22 How to Renew Contracts Ultimate Team Tutorial (Xbox Series X) 2024, May
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The extension of the term of the agreement is called prolongation. This is a very convenient action, as it saves legal entities or individuals from re-drafting a contract, and hence from tedious paperwork. After prolongation, the previously valid document will remain in force, only it will be supported by a special additional agreement, which the parties will draw up after the expiration of this agreement.

How to extend the term of the contract
How to extend the term of the contract

Instructions

Step 1

To renew the contract, you need to draw up an additional agreement, which will state that the term of the contract is extended for a certain period. This type of agreement is valid only if the agreement does not contain a condition for its prolongation automatically.

Step 2

Next, the additional agreement should be certified in duplicate with the seals and signatures of both parties.

Step 3

If, in your case, the lease agreement will be extended for a period of more than one year, then in this case it is worth registering it with the institutions of justice for state registration of rights to real estate and transactions with it.

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