Sick of wasting time writing and re-writing contract amendments every time you need to make a change to a contract? DocJuris is here to help!
Download our industry-backed amendment template that covers opening contract addendums, paragraphs, recitals, amendment text, boilerplate language, signature blocks, and exhibits (if applicable). Our template is based on our knowledge of contracts and the extensive research we have done by working with over 250 companies.
You can use the contract amendment in a variety of settings, including commercial contacts and any other type of contract that requires adding an amendment. You can also use this amendment template to negotiate or renew an existing contract or letter agreement.
In general, amendments are created when some condition of the contract or terms aren’t working for at least one party, and both parties agree to make an adjustment while keeping the existing contract remaining unchanged. They are considered legal documents that are in full force and effect under applicable law.
They can also be used to modify an original contract that is in a live negotiation as well — more on this below. Generally, anytime you need to make a change to an existing contract or agreement, whether minor or significant or previously amended, you need to use a contract amendment.
While many amendments are specific to the contract, others are relatively standard, like changing a due date. Having an amendment template can streamline the process of drafting amendments, which means you’ll get them signed faster and be able to move forward with the work outlined in your original contract.
At DocJuris, we’ve designed our contract negotiation software to make the entire process of writing, reviewing, and approving contracts more efficient for everyone involved. That includes amendments. With DocJuris Amendments, you can turn a redline or markup into an amendment automatically.If you’d like to learn more about how DocJuris can make your sales, procurement, or legal team more efficient by fast-tracking contract amendments, let’s talk!
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Having a contract amendment template will come in handy when contract terms need to be adjusted on the fly. Some examples of when you might need this include:
In addition, everyone involved in the contract can see and use the contract amendment as expressly provided. As a result, you’ll all be working from a single source of truth, which ensures you’ll use the correct language for each contract amendment scenario.
The Background
This is an excellent, real world scenario that comes up often. In many scenarios, parties involved might require that markups or edits to a contract be prepared in a legal document that is a separately signed amendment that would be packaged with the original agreement before signature.In some cases, many large companies do not allow redlines to an original contract, and they might require parties to sign both an amendment and the original agreement without changes.
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Signing Amendments in Tandem
In this scenario, the original contract and contract addendum or amendment will have the same effective date in order to enforce the terms of the contract, but the original contract remain unchanged. Unfortunately, this may mean having to maintain a separate redline and draft an amendment simultaneously in order to meet the parties' terms.
Anyone who needs to modify a contract including parties involved can benefit from this template. This includes legal, sales, and procurement teams looking to amend an existing agreement.
There isn’t one! We promise. At DocJuris, we’re committed to helping sales, legal, and procurement professionals and teams become more efficient every time they negotiate a contract. That includes adding amendments. We’re offering this template in the hopes that it will save you time and headaches the next time you need to add an amendment to a contract.
Think about all the steps involved in drafting a contract amendment between parties involved. First, you need to write an introductory paragraph defining the companies involved in the contract and contract amendment.
Then, you need to describe the modification using correct terminology. Next comes a concluding section, which stipulates that the contract will remain as written except for the new information described in the amendment.
After you’ve gone through those steps, you need to proofread your amendment, confirm enforceability under applicable law, and review other provisions before getting it signed by all parties. Then, you need to add it to the original contract so that anyone who refers to it later can quickly see that there is an amendment attached to it.
With a template, you can breeze through the first four steps and get to the part where everyone signs much more efficiently and get parties to agree. This saves everyone time and allows you to continue moving forward instead of getting stalled while you wait for the contract amendment to be written and signed.
In short, no. Yet, many people use these terms interchangeably to enforce the terms of the contract. Although it’s true that both a contract amendment and a contract addendum can significantly change the terms of a contract agreement, they do so in different ways if parties agree.
An amendment letters a specific aspect of the original contract agreement. For example, if you need to change the price of a product, an amendment will alter that particular part of the contract.
A contract addendum will add something to the contract that was not there originally. So, for example, if you need to add a new product to the existing contract, you’ll create an addendum for that product. Once all parties involved in the contract agree to an addendum, it becomes a part of the new contract. A contract addendum is also known as an amending agreement.
We understand the unique challenges of complex contract negotiations. That’s why we designed our AI contract review software to help procurement, legal, and sales teams streamline contract negotiations with all types of industries, including the more complex sectors of energy, logistics, and construction.