The Addendum To Agreement Of Sale is a crucial legal instrument used when parties need to modify an existing sales agreement without creating an entirely new contract. This document is particularly relevant in Hong Kong's dynamic business environment, where commercial transactions often require adjustment to reflect changing circumstances or new terms agreed upon by the parties. It must comply with Hong Kong's contract law framework, including the Contract and Rights of Third Parties Ordinance (Cap. 623) and the Sale of Goods Ordinance (Cap. 26). The addendum can accommodate various modifications such as price adjustments, delivery terms, specifications changes, or any other mutually agreed amendments. It's essential in maintaining clear documentation of contract changes while ensuring legal enforceability under Hong Kong jurisdiction.
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1. Parties: Identification of all parties to the original agreement, matching exactly how they were named in the original agreement
2. Background: Reference to the original Agreement of Sale including its date, parties, and subject matter, and brief explanation of why the addendum is needed
3. Definitions: Key terms used in the addendum, incorporating definitions from the original agreement and any new terms introduced
4. Amendments: Clear specification of the exact modifications being made to the original agreement, referencing specific sections, clauses, or terms being changed
5. Confirmation of Other Terms: Statement confirming that all other terms and conditions of the original agreement remain unchanged and in full force and effect
6. Effective Date: Specification of when the modifications take effect
7. Integration: Statement that this addendum forms part of the original agreement
8. Execution: Signature blocks for all parties and witnessing requirements
1. Consideration: Required if there is any change in payment terms or new consideration being provided
2. Regulatory Compliance: Include when modifications need to address specific regulatory requirements or changes
3. Representations and Warranties: Include when new representations or warranties are needed specific to the modifications
4. Conditions Precedent: Include when the modifications are subject to certain conditions being met
5. Third Party Consents: Include when modifications require approval from third parties
6. Tax Implications: Include when modifications have specific tax consequences that need to be addressed
7. Dispute Resolution: Include when modifications affect or require specific dispute resolution procedures
1. Schedule of Amendments: Detailed listing of all specific changes to the original agreement, especially useful for complex modifications
2. Updated Price Schedule: If the addendum involves price changes, detailed breakdown of new pricing terms
3. Modified Delivery Schedule: If timing or delivery terms are modified, detailed schedule of new delivery terms
4. Consent Documents: Copies of any third-party consents or regulatory approvals required for the modifications
5. Revised Specifications: If the addendum modifies product or service specifications, detailed documentation of changes
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Manufacturing
Retail
Wholesale
Technology
Construction
Agriculture
Automotive
Consumer Goods
Industrial Equipment
Professional Services
Energy
Healthcare
Telecommunications
Relevant Teams
Legal
Sales
Procurement
Commercial
Compliance
Operations
Finance
Risk Management
Business Development
Contract Administration
Relevant Roles
Legal Counsel
Contract Manager
Sales Director
Procurement Manager
Business Development Manager
Commercial Director
Chief Legal Officer
Company Secretary
Compliance Officer
Operations Manager
Project Manager
Chief Financial Officer
Risk Manager
General Manager
Managing Director
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