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What is a Contract Addendum?
A Contract Addendum is a document that adds or amends clauses of a signed contract. After signing the original contract, it is possible that the parties wish to change what they have previously agreed, for example a different pricing or some additional obligations that the parties did not foresee. A Contract Addendum sets out clearly the changes to the original contract, and that apart from those changes the contract will remain in full force and effect.
Key points included
-Name and date of the original contract;
-Text of new clauses and where to place them in the original contract;
-Text of amended clauses and where to place them in the original contract; and
-Remaining provisions of the original contract will remain in full force and effect.