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Hear this out loud PauseThe key difference between a supplemental agreement and a contract amendment is that the first is a separate document that modifies the contract's terms. The original contract remains intact. A contract amendment, on the other hand, involves changing or updating certain parts of the main contract.
A contract amendment is a change, correction, clarification, or deletion to an agreement you have already signed. An amendment leaves your original agreement substantially intact.
How to create a contract amendment Pinpoint what you want to change or add. Look at your contract and write down the parts you need to change. ... Date and title the new amendment. Next, add the current date and the title and date of the original agreement to the document. ... Draft and describe the changes. ... Finalize the changes.
Like an addendum, a contract amendment is also an addition to a contract or agreement. An amendment, however, is generally not used to add terms and conditions, but rather to change existing terms and conditions. It comes from the Latin word emendare which means ?to correct, free from fault.?
What is the process for amending a contract? Identify the changes that need to be made. The first step is to identify the changes that need to be made to the contract. ... Draft the amendment. ... All parties should sign the amendment, ensuring that everyone has agreed that these changes have been made.
You can use a contract amendment letter to list the changes to the original document and have both parties sign. You can create a contract amendment created from a template or from a legal services provider. You can add amendment pages?digital or print?to the end of the original signed contract.