Amendment to Sales Contract
Understanding this form
The Amendment to Sales Contract is a legal document used to modify the existing terms of a sales agreement between two parties: the seller and the buyer. This form allows either party to amend essential details such as price, payment terms, or conditions of the contract. Unlike a brand new contract, this amendment modifies specific sections while keeping the original agreement intact. It is crucial to ensure that the amendment complies with state laws for it to be enforceable.
Main sections of this form
- Date of the original Sales Contract.
- Name and contact information of both the Seller and the Buyer.
- Specific amendments to pricing and payment terms.
- Clauses for the deletion of old terms and the addition of new provisions.
- Signature lines for both parties to acknowledge acceptance of the amendments.
When to use this form
This form should be used when both parties to a sales contract agree to make changes to the terms, such as adjusting the price or altering payment terms. It is often required when circumstances change, such as economic factors or alterations to the products being sold. Using this amendment helps to avoid misunderstandings and ensures that both parties are clear on the new terms moving forward.
Who should use this form
This form is suitable for:
- Businesses looking to alter existing sales agreements with buyers.
- Individual sellers and buyers engaged in sales transactions.
- Any party needing a formal record of changes agreed upon after a sales contract has been signed.
How to prepare this document
- Identify and enter the date of the original sales contract.
- Provide the full names and addresses of both the Seller and the Buyer.
- Specify the amendments to the original terms, including any adjustments to price or payment timelines.
- Delete any sections that are no longer applicable and add relevant new clauses.
- Ensure both parties sign and date the amendment to finalize the document.
Notarization guidance
This form usually doesn’t need to be notarized. However, local laws or specific transactions may require it. Our online notarization service, powered by Notarize, lets you complete it remotely through a secure video session, available 24/7.
Typical mistakes to avoid
- Failing to include the date of the original sales contract.
- Not specifying all amendments clearly, leading to confusion.
- Omitting signatures from one or both parties, which can invalidate the amendment.
- Neglecting to check for compliance with state-specific laws concerning contract modifications.
Advantages of online completion
- Convenient access to a professionally drafted template, tailored for clarity and accuracy.
- Editability allows users to customize the form to their specific needs quickly.
- Generates a legally recognized document that can be downloaded and saved securely.
Form popularity
FAQ
Always put a contract amendment in writing and make sure both parties sign and date it. Reference the title of the contract, if applicable; its original parties; and original signing date, so that it is clear what document you are amending.
Use a style and format consistent with the original contract. Create a title clearly identifying the relationship with the original contract. State the contract parties. Note the effective date of the addendum. Identify the related terms and contract sections.
An amendment is a mutually agreed change whether an addition or deletion or both to the original contract. It includes the terms, clauses, sections, and definitions to be changed in the original contract. It also references the title and date of the original contract. All parties must sign amendments.
The definition of an amendment is a change, addition, or rephrasing of something, most often with the intention of improvement. An example of an amendment are the changes made to the U.S. Constitution. The act of changing for the better; improvement.
A contract amendment is a document that modifies the original purchase agreement. It either corrects something on that initial contract or clarifies it with additional information or detail. Amendments can only be proposed by the signing parties (or their representatives/agents).
Insert the word "amended" into the legal document's title. For instance, if you were served a complaint and named a defendant, you would file an "answer" titled "Defendant's Answer." If there is reason to amend the original document, title the new document "Defendant's Amended Answer."
Writing a Contract Addendum Name the parties to the contract. Indicate the addendum's effective date, using the same date format used in the original contract. Indicate the elements of the original contract that the addendum intends to change. Concisely but clearly describe the desired changes.
An example of an addendum being used would be if the parties wanted to add something to the original document. For instance, an individual who is purchasing a house may not want to purchase all of the furniture that is being left behind. However, after thinking about it further, he changes his mind.
Always put a contract amendment in writing and make sure both parties sign and date it. Reference the title of the contract, if applicable; its original parties; and original signing date, so that it is clear what document you are amending.
