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Amending Agreement

Occasionally after an agreement has been entered into, the parties may agree that a change must be made to the original contract. For example, there may be some market change that requires an adjustment of price or an alteration of a timetable. Typically, the original contract will have a provision allowing amendment of the contract and may also set out an amendment procedure. This procedure must be followed to ensure that the amendment is valid. By having a written rather than oral amendment, the parties can avoid many future problems and misunderstandings surrounding the modified terms.

See form: Amending Agreement

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