The Extension Addendum To Contract is a crucial legal instrument used when parties wish to extend their contractual relationship beyond the original term without creating an entirely new agreement. This document type is particularly relevant in Hong Kong's dynamic business environment, where ongoing business relationships often require flexibility and adaptation. The addendum specifically outlines the extended duration, any modified terms, and confirms the continuation of other original contract provisions. It's commonly used in situations where the original contract is performing satisfactorily but requires an extended timeline, or where minor modifications are needed alongside the extension. The document must comply with Hong Kong contract law principles and relevant ordinances, ensuring proper execution and enforceability within the jurisdiction. This type of addendum streamlines the contract renewal process while maintaining legal certainty and business continuity.
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1. Parties: Identification of all parties to the original contract and confirmation that they remain the same for the extension
2. Background: Reference to the original contract including its date, parties, and subject matter, and brief context for the extension
3. Definitions: Key terms used in the addendum, including reference to definitions from the original contract that remain applicable
4. Extension Terms: Specific details of the extension including new duration, effective date, and any modified terms
5. Confirmation of Other Terms: Statement confirming all other terms and conditions of the original contract remain in full force and effect
6. Governing Law: Confirmation that Hong Kong law continues to govern the agreement
7. Execution: Signature blocks for all parties and execution details
1. Modified Payment Terms: Include when the extension involves changes to payment amounts, schedules, or methods
2. Additional Services/Scope: Include when the extension includes modifications to the scope of services or deliverables
3. Performance Review: Include when the extension is conditional upon past performance or includes new performance metrics
4. Regulatory Compliance: Include when the extension needs to address new regulatory requirements or compliance matters
5. Force Majeure Update: Include when updating force majeure provisions in light of new circumstances or risks
1. Schedule 1 - Updated Timeline: Detailed timeline showing the extended period and any modified milestones or deadlines
2. Schedule 2 - Modified Pricing: Updated pricing structure or payment schedule if applicable to the extension
3. Appendix A - Original Agreement: Copy of the original contract being extended for easy reference
4. Appendix B - Supporting Documents: Any relevant certificates, permits, or other documents supporting the extension
Authors
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Technology
Real Estate
Manufacturing
Professional Services
Retail and Consumer
Healthcare
Education
Construction
Telecommunications
Logistics and Supply Chain
Energy and Utilities
Relevant Teams
Legal
Procurement
Commercial
Operations
Compliance
Risk Management
Finance
Business Development
Project Management
Account Management
Relevant Roles
Legal Counsel
Contract Manager
Procurement Manager
Business Development Manager
Project Manager
Operations Director
Commercial Manager
Compliance Officer
Risk Manager
Chief Legal Officer
Chief Financial Officer
Company Secretary
Account Manager
Relationship Manager
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