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Purchase Price Addendum for the United States

Purchase Price Addendum Template for United States

A Purchase Price Addendum is a legal document used in the United States to modify the original purchase price agreed upon in an existing contract. It serves as an amendment to the primary agreement, specifically addressing price-related changes while maintaining all other terms and conditions. The document must comply with federal and state contract laws, including the Uniform Commercial Code, and requires proper execution by all parties involved.

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What is a Purchase Price Addendum?

The Purchase Price Addendum is utilized when parties need to modify the original purchase price in an existing agreement due to various factors such as market conditions, cost adjustments, or mutual agreement. This document is essential in U.S. business transactions as it provides a formal, legally-binding method to update pricing terms while preserving the integrity of the original contract. It typically includes the original and new pricing details, effective date, and any related payment term modifications. The addendum must comply with both federal and state contract laws, making it particularly important to follow proper documentation and execution procedures.

What sections should be included in a Purchase Price Addendum?

1. Parties: Identification of all parties involved in the original agreement and addendum

2. Background: Reference to original agreement and reason for price modification

3. Definitions: Key terms used in the addendum

4. Price Modification: Specific details of the price change, including old and new prices

5. Effective Date: When the price change takes effect

6. Original Agreement Status: Confirmation that all other terms remain unchanged

What sections are optional to include in a Purchase Price Addendum?

1. Payment Terms: Modified payment schedule or terms, if applicable

2. Tax Implications: Include when price change affects tax calculations

3. Force Majeure: If price change is due to unforeseen circumstances

4. Conditional Terms: Any conditions that must be met for price change to take effect

What schedules should be included in a Purchase Price Addendum?

1. Updated Price Schedule: Detailed breakdown of new prices

2. Payment Schedule: If payment terms are modified

3. Comparison Schedule: Side-by-side comparison of old and new prices

Authors

Alex Denne

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

Jurisdiction

United States

Cost

Free to use
Clauses













Industries

Uniform Commercial Code: Primary consideration of UCC, particularly Article 2 (Sales) and Article 9 (Secured Transactions), including provisions for price modifications and amendments

State-Specific Contract Laws: Individual state contract laws, including Statute of Frauds requirements and state-specific consumer protection regulations that vary by jurisdiction

Federal Laws: Federal regulations including FTC regulations, Truth in Lending Act, and federal consumer protection laws including Magnuson-Moss Warranty Act

Industry-Specific Regulations: Sector-specific pricing requirements and regulatory compliance standards that apply to particular industries

Tax Considerations: Sales tax implications, federal tax requirements, and state/local tax regulations that affect pricing structures

Documentation Requirements: Writing and signature requirements, notice provisions, and any applicable recording requirements for the addendum

Fair Business Practice Laws: Price discrimination laws, antitrust regulations, and unfair competition laws that govern pricing practices

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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