Form Modification Contract With Special
Description
How to fill out Extended Date For Performance?
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FAQ
Contract modifications are of the following types:(a) Bilateral.(1) Make negotiated equitable adjustments resulting from the issuance of a change order;(2) Definitize letter contracts; and.(3) Reflect other agreements of the parties modifying the terms of contracts.(b) Unilateral.(1) Make administrative changes;More items...
Administrative changes are unilateral changes that do not affect the substantive rights of the parties. They are used to make changes such as change in the paying office or name of the contracting officer. A contracting officer may need to issue an out-of-scope modification.
A contract modification (mod) is any written change by the contracting officer to the contract terms and conditions. A mod can be issued at any time after the contract is awarded.
While the general proposition of the court is correct that modification of a contract requires new consideration, that rule applies when one party to the contract is making the modification. Here, both parties mutually agreed to modify the existing contract to change the original purchase price.
There are two types of contract modifications: unilateral and bilateral. Unilateral modifications are signed only by a contracting officer and are generally used to make administrative changes, issue change orders, make changes authorized by clauses other than the Changes clause, and issue termination notices.
