In business practice, counterparties often need to adjust the terms of a previously concluded agreement. Then it comes to drawing up an additional agreement to it.
Instructions
Step 1
An additional agreement is concluded by the parties when, due to the prevailing circumstances or other reasons, it is necessary to make any changes to an existing agreement. These changes can relate to both individual clauses of the agreement and its entire sections. After signing, an additional agreement to the contract becomes its integral part.
Step 2
In the additional agreement, the parties to the agreement have the right to add and exclude certain clauses from it, as well as set out the necessary conditions in a new edition.
Step 3
An additional agreement is necessary, in particular, when any of the parties changes the organizational and legal form, name or bank details. In this case, in the supplementary agreement, the preamble of the contract, as well as the details of the counterparties, are set out in a new edition. In addition, an additional agreement cannot be dispensed with when changing the term of the contract.
Step 4
The parties must conclude an additional agreement even when the price of the contract, the procedure for settlements, as well as the timing of the fulfillment of mutual obligations are adjusted.
Step 5
Schematically, the supplementary agreement is drawn up as follows. Its name, number, date and place of detention follow first. After that, a preamble is drawn up, which indicates information about the parties who have entered into an additional agreement. The document is completed by the details of the parties. The additional agreement is signed by authorized persons and sealed with seals (if any).
Step 6
The main text of the additional agreement may contain a modified version of the clauses of the current agreement. If the parties decide to include new conditions in the agreement, the number and text of the corresponding clause of the agreement are given in the supplementary agreement.
Step 7
If a necessary clause is excluded from the contract, the wording in the supplementary agreement may sound as follows: "The parties have agreed to exclude clause 1.4 from the text of the contract." If at the same time there is a change in the numbering of the terms of the contract, it is necessary to make a corresponding clause in the supplementary agreement.
