Kentucky Extended Date for Performance

• Category: Contracts - Extensions
• State: Multi-State
• Control #: US-02969BG
• Format: Word; Rich Text

Description

This is basically a modification of the original contract. Modification is written change made to a contract. It may be unilateral in accordance with the changes clause in the contract or bilateral. Modification may introduce or cancel specifications or terms of a contract without effecting the purpose of the contract. Unilateral modifications are changed usually through a modification order and mutually agreed change is made by a supplemental agreement. It is also called contract amendment or modification of a contract. The Kentucky Extended Date for Performance, commonly referred to as the KEEP, is a regulation introduced by the state of Kentucky to provide businesses and contractors with an extended timeline to fulfill their contractual obligations. This extension is granted to entities facing unforeseen circumstances or events that hinder their ability to complete the tasks within the original agreed-upon deadline. The Kentucky Extended Date for Performance serves as a safeguard for businesses, allowing them to adapt to unexpected disruptions, such as damage caused by natural disasters, extreme weather conditions, supplier delays, or even acts of terrorism. By granting an extended date for performance, the state of Kentucky aims to promote fairness and flexibility in contractual arrangements, recognizing the need for businesses to overcome unexpected challenges. This regulation has different variations depending on the specific field or industry it applies to. Some key types of the Kentucky Extended Date for Performance include: 1. Construction KEEP: Designed specifically for construction projects, this variation allows contractors and developers to request an extension for their performance deadlines due to circumstances such as uncontrollable weather, unforeseen site conditions, or delays caused by other contractors or subcontractors. 2. Government Contracts KEEP: Primarily applicable to entities involved in government projects or contracts, this variation enables businesses to request an extension of their performance deadlines if hindered by factors such as changes in government regulations, unforeseen events or emergencies affecting government operations, or funding delays. 3. Supply Chain KEEP: This type of extension accommodates businesses facing disruptions in their supply chain, such as delays in receiving necessary raw materials or components. It acknowledges that businesses are sometimes reliant on external suppliers and offers flexibility to adjust performance deadlines accordingly. 4. Services KEEP: Businesses in service industries, such as consulting, technology, or healthcare, can benefit from this variation. It permits extensions due to unexpected events, staffing challenges, or technical difficulties, which may impact their ability to deliver services within the original timeframe. Irrespective of the specific variation, the Kentucky Extended Date for Performance aims to support businesses while maintaining fairness in contractual relations. The extended timeline allows entities to navigate and mitigate the effects of unforeseen circumstances, ensuring that they can continue to fulfill their contractual obligations under more favorable conditions.

The Kentucky Extended Date for Performance, commonly referred to as the KEEP, is a regulation introduced by the state of Kentucky to provide businesses and contractors with an extended timeline to fulfill their contractual obligations. This extension is granted to entities facing unforeseen circumstances or events that hinder their ability to complete the tasks within the original agreed-upon deadline. The Kentucky Extended Date for Performance serves as a safeguard for businesses, allowing them to adapt to unexpected disruptions, such as damage caused by natural disasters, extreme weather conditions, supplier delays, or even acts of terrorism. By granting an extended date for performance, the state of Kentucky aims to promote fairness and flexibility in contractual arrangements, recognizing the need for businesses to overcome unexpected challenges. This regulation has different variations depending on the specific field or industry it applies to. Some key types of the Kentucky Extended Date for Performance include: 1. Construction KEEP: Designed specifically for construction projects, this variation allows contractors and developers to request an extension for their performance deadlines due to circumstances such as uncontrollable weather, unforeseen site conditions, or delays caused by other contractors or subcontractors. 2. Government Contracts KEEP: Primarily applicable to entities involved in government projects or contracts, this variation enables businesses to request an extension of their performance deadlines if hindered by factors such as changes in government regulations, unforeseen events or emergencies affecting government operations, or funding delays. 3. Supply Chain KEEP: This type of extension accommodates businesses facing disruptions in their supply chain, such as delays in receiving necessary raw materials or components. It acknowledges that businesses are sometimes reliant on external suppliers and offers flexibility to adjust performance deadlines accordingly. 4. Services KEEP: Businesses in service industries, such as consulting, technology, or healthcare, can benefit from this variation. It permits extensions due to unexpected events, staffing challenges, or technical difficulties, which may impact their ability to deliver services within the original timeframe. Irrespective of the specific variation, the Kentucky Extended Date for Performance aims to support businesses while maintaining fairness in contractual relations. The extended timeline allows entities to navigate and mitigate the effects of unforeseen circumstances, ensuring that they can continue to fulfill their contractual obligations under more favorable conditions.