Last revision: 07/02/2023
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A Contract Amendment is a document that is used to amend or modify the terms and conditions of an existing contract. This document is used only when the parties have entered into an already existing contract or agreement and want to change, add or alter specific areas and not all of their original agreement.
Parties to a contract can use this document to modify any agreement, such as the Memorandum of Understanding, Service Agreement, Partnership Agreement, IP Licensing Agreement, Joint Venture Agreement, Loan Agreement, and Sale of Goods Agreement, provided that the terms of the original contract do not specifically prohibit modifications.
This document provides a cost-effective way to alter one or more areas of the original document without changing other provisions. Hence, this document only serves as an addendum or a supplement to an existing contract.
How to use this document
The first step is to identify the provisions of the original contract that needs to be modified, after that, the document should be completed by entering all the required information.
After completing the document, it should be printed, and copies of this document should be signed by all the parties to the agreement.
If one of the parties is a Nigerian company, the document should be signed by either two directors of the company or one director and one company secretary. If one of the party is a business name, incorporated trustee or other registered organization, the document should be signed by one officer of the organization.
Each party should keep one signed copy for record purposes.
The rules of general contact apply to this document.
How to modify the template
You fill out a form. The document is created before your eyes as you respond to the questions.
At the end, you receive it in Word and PDF formats. You can modify it and reuse it.
Other names for the document: Contract Amendment Agreement, Amendment to Contract, Amendment to An Existing Contract, Agreement to Alter Contract, Amendment to Agreement