An Addendum To Extend Contract is commonly used when parties wish to continue their contractual relationship beyond the original termination date. Under Singapore law, this document formally extends the contract duration while potentially updating specific terms to reflect current circumstances. It's particularly useful when the original agreement remains satisfactory but requires a longer term. The addendum must reference the original contract, clearly state the extension period, and specify any modifications to existing terms. This approach is more efficient than drafting a new contract and maintains continuity in the business relationship.
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1. Parties: Identification of all parties to the original contract and addendum
2. Background: Reference to original contract and reason for extension
3. Definitions: Key terms used in the addendum, incorporating original contract definitions
4. Extension Terms: Specific details of the contract extension period
5. Confirmation of Other Terms: Statement confirming all other original contract terms remain in force
6. Execution: Signature blocks and execution formalities
1. Modified Terms: Section for any terms being modified along with the extension - used when other contract terms need modification besides duration
2. Additional Consideration: Details of any new consideration for the extension - used when additional payment or consideration is required
3. Conditions Precedent: Conditions that must be met for extension to take effect - used when extension is subject to specific conditions
1. Schedule of Updated Dates: Detailed timeline of extended contract periods
2. Schedule of Modified Terms: List of any terms being modified - included when multiple terms are being modified
3. Schedule of Updated Pricing: Any price changes during extension period - included when pricing terms are modified
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