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Contract Extension Addendum

Contract Extension Addendum Template for India

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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 for an additional 24 months from January 2025, including a 5% annual price increase and updated service level requirements."

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Document background
The Contract Extension Addendum is a critical legal instrument used when parties wish to extend their contractual relationship beyond the original term while potentially updating certain provisions to reflect current circumstances. This document type is particularly relevant in the Indian business context, where it must comply with the Indian Contract Act, 1872, and related legislation. It's commonly used when businesses want to maintain successful partnerships without negotiating entirely new contracts, saving time and resources while ensuring legal continuity. The addendum typically includes details about the extension period, any modified terms, updated pricing if applicable, and confirmation of continuing obligations. It's essential for business continuity, particularly in long-term commercial relationships where regular renewals or extensions are common.
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, its date, and brief description of the reason for extension

3. Definitions: Key terms used in the addendum, incorporating definitions from the original agreement and any new terms

4. Extension Term: Clear specification of the new term duration, including start and end dates

5. Continuation of Original Terms: Confirmation that all other terms and conditions of the original agreement remain in full force and effect

6. Governing Law: Reaffirmation of Indian law as the governing law of the contract

7. Execution: Signature blocks for all parties and execution details

Optional Sections

1. Modified Terms: Section detailing any terms being modified besides the duration - include only if other terms are changing

2. Updated Pricing: If the extension includes price changes, detail the new pricing structure

3. Performance Review: Include if the extension is conditional on past performance or sets new performance metrics

4. Additional Services/Scope: Include if the extension adds new services or expands the scope of the original agreement

5. Regulatory Compliance Updates: Include if new regulations need to be addressed in the extended term

6. Force Majeure Update: Include if force majeure provisions need updating based on recent events or changed circumstances

Suggested Schedules

1. Schedule 1 - Updated Timeline: Detailed timeline of the extension period and any key milestones

2. Schedule 2 - Modified Commercial Terms: Detailed breakdown of any price changes, payment schedules, or commercial modifications

3. Appendix A - Compliance Certificates: Updated certificates or compliance documents required for the extension period

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

Manufacturing

Professional Services

Construction

Real Estate

Healthcare

Education

Retail

Telecommunications

Financial Services

Energy

Logistics and Supply Chain

Consulting

Relevant Teams

Legal

Procurement

Finance

Operations

Compliance

Risk Management

Commercial

Business Development

Project Management

Vendor Management

Contract Administration

Relevant Roles

Legal Counsel

Contract Manager

Procurement Manager

Business Development Manager

Chief Financial Officer

Chief Operating Officer

Project Manager

Account Manager

Vendor Relations Manager

Compliance Officer

Risk Manager

Commercial Director

General Manager

Operations Director

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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