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Contract Extension Addendum

Contract Extension Addendum Template for New Zealand

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Key Requirements PROMPT example:

Contract Extension Addendum

"I need a Contract Extension Addendum to extend our IT services agreement with TechServe Solutions Ltd for an additional 24 months starting March 1, 2025, with a 5% increase in service fees and updated cybersecurity requirements."

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Document background
The Contract Extension Addendum is a crucial legal instrument used in New Zealand business operations when parties wish to extend their existing contractual relationship beyond the originally agreed term. This document type is particularly relevant when organizations need to maintain business continuity without negotiating an entirely new contract. The addendum must comply with New Zealand contract law requirements and typically includes specific details about the extension period, any modifications to existing terms, and confirmation of which original contract provisions remain in effect. It's commonly used across various industries and is particularly valuable for ongoing service agreements, lease arrangements, and employment contracts. The document should be drafted with careful consideration of the Contract and Commercial Law Act 2017 and other relevant New Zealand legislation to ensure enforceability.
Suggested Sections

1. Parties: Identification of all parties to the original agreement and confirmation that they remain the same for the extension

2. Background: Reference to the original agreement, including its date and purpose, and the parties' desire to extend it

3. Definitions: Key terms used in the addendum, including reference to definitions from the original agreement that remain applicable

4. Extension Term: Specific details of the extension period, including start and end dates

5. Confirmation of Terms: Statement confirming which original terms and conditions remain in effect

6. Execution: Signature blocks for all parties and date of execution

Optional Sections

1. Modified Terms: Used when any original terms need to be modified along with the extension

2. Additional Provisions: Used when new terms need to be added as part of the extension

3. Consideration: Include when there are changes to pricing or payment terms for the extension period

4. Performance Review: Added when the extension is conditional on past performance or includes new performance metrics

5. Early Termination Rights: Include when specific termination rights during the extension period need to be outlined

6. Regulatory Compliance: Used when new regulatory requirements need to be addressed in the extension

Suggested Schedules

1. Schedule 1 - Original Agreement: Copy or reference to the original agreement being extended

2. Schedule 2 - Updated Pricing: Details of any price adjustments or new pricing structures for the extension period

3. Schedule 3 - Performance Metrics: Updated or new performance indicators or service levels for the extension period

4. Appendix A - Supporting Documents: Any relevant certificates, permits, or other documents required for the extension

5. Appendix B - Change Log: Detailed list of any modifications to the original agreement terms

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions

























Clauses
























Relevant Industries

Information Technology

Construction

Real Estate

Manufacturing

Professional Services

Healthcare

Education

Retail

Transportation

Energy

Telecommunications

Financial Services

Government Services

Agriculture

Relevant Teams

Legal

Procurement

Operations

Finance

Commercial

Risk and Compliance

Business Development

Account Management

Human Resources

Supply Chain

Executive Leadership

Administration

Relevant Roles

Legal Counsel

Contract Manager

Procurement Manager

Business Development Manager

Project Manager

Operations Manager

Commercial Manager

Account Manager

Risk Manager

Compliance Officer

Chief Financial Officer

Chief Executive Officer

Human Resources Manager

Supply Chain Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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