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Addendum To Purchase Agreement

Addendum To Purchase Agreement Template for Malaysia

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Key Requirements PROMPT example:

Addendum To Purchase Agreement

"I need an Addendum to Purchase Agreement under Malaysian law to modify the payment terms of our original equipment purchase agreement dated January 15, 2025, increasing the purchase price by 15% and extending the payment schedule from 30 to 60 days."

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Document background
An Addendum To Purchase Agreement is a crucial document used when parties need to modify an existing purchase agreement without creating an entirely new contract. This document type is particularly relevant in the Malaysian business context, where it must comply with local contract law requirements including the Contracts Act 1950 and the Sale of Goods Act 1957. It's commonly used when circumstances require changes to original terms such as purchase price adjustments, delivery modifications, specification updates, or timeline revisions. The addendum ensures legal continuity while allowing flexibility to adapt to changing business needs, requiring proper execution and witnessing according to Malaysian legal standards.
Suggested Sections

1. Parties: Identification of all parties to the original agreement and addendum, including their full legal names, registration numbers (if applicable), and addresses

2. Background: Reference to the original Purchase Agreement including its date, parties, and subject matter, and brief explanation of why the addendum is needed

3. Definitions: Key terms used in the addendum, including references to definitions in the original agreement and any new terms introduced

4. Amendments: Specific clauses being modified, added, or deleted from the original agreement, with clear reference to the original clause numbers

5. Effect on Original Agreement: Statement confirming that all other terms and conditions of the original agreement remain in full force and effect

6. Governing Law: Confirmation that the addendum is governed by Malaysian law, consistent with the original agreement

7. Execution: Signature blocks for all parties, including space for witnesses as required under Malaysian law

Optional Sections

1. Additional Consideration: Required if there are changes to the purchase price or other financial terms

2. Conditions Precedent: Include if there are new conditions that must be met before the amendments take effect

3. Representations and Warranties: Include if new representations or warranties are being added specific to the modified terms

4. Time Extension: Include if the addendum modifies any timeframes or deadlines in the original agreement

5. Consent of Third Parties: Required if the original agreement requires third-party consent for modifications

Suggested Schedules

1. Schedule of Amendments: Detailed list of all specific changes to the original agreement, including original and new text

2. Revised Price Schedule: If price terms are modified, detailed breakdown of new pricing structure

3. Updated Specifications: If the addendum involves changes to product or service specifications

4. Timeline Modifications: If delivery or performance schedules are being modified

5. Required Approvals: Copies of any third-party approvals or regulatory clearances required for the amendments

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

Real Estate

Manufacturing

Retail

Technology

Construction

Agriculture

Energy

Automotive

Consumer Goods

Industrial Equipment

Healthcare

Telecommunications

Relevant Teams

Legal

Procurement

Sales

Finance

Operations

Compliance

Risk Management

Commercial

Business Development

Administration

Relevant Roles

Legal Counsel

Contract Manager

Procurement Manager

Sales Director

Business Development Manager

Commercial Director

Chief Financial Officer

Company Secretary

Operations Manager

Project Manager

Compliance Officer

Risk Manager

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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