An Addendum To Memorandum Of Agreement is utilized when parties need to modify their existing agreement without creating an entirely new contract. This document is commonly used across various industries in the United States when circumstances require changes to original terms, addition of new provisions, or clarification of existing clauses. The addendum must comply with both federal and state contract laws and should clearly reference the original agreement while specifying exactly what is being modified. It's particularly useful for maintaining business continuity while adapting to changing circumstances or requirements.
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1. Parties: Identifies the original parties to the MOA and confirms if there are any changes
2. Background: References the original MOA, including date and purpose, and explains the need for the addendum
3. Definitions: Defines any new terms or modifications to existing definitions in the original MOA
4. Amendments: Clearly states which sections of the original MOA are being modified, removed, or added
5. Confirmation of Other Terms: Confirms that all other terms of the original MOA remain in full force and effect
6. Effective Date: Specifies when the addendum takes effect
1. Additional Parties: Used when new parties need to be added to the agreement
2. Consideration: Details any new or modified financial terms when the addendum involves changes to payment terms or financial obligations
3. Term Extension: Modifies the duration of the original agreement when changing the term of the original MOA
4. Regulatory Compliance: Addresses new regulatory requirements when changes are needed to comply with new laws or regulations
1. Schedule of Amendments: Detailed listing of specific changes to the original MOA, often in table format
2. Updated Price Lists: If the addendum involves price changes or new pricing structures
3. Modified Timeline: Updated project schedules or delivery dates if applicable
4. Revised Scope of Work: Details of any modifications to the original scope of work
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