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Understanding Contract Terms (Post 9): Amendments

We continue the Understanding Contract Terms series by explaining amendment clauses. Most contracts include some form of amendment clause. Amendment clauses are important to understand when determining your rights and liabilities under almost any contract and how those rights and liabilities can be amended.

When it Matters to Have a Well-drafted Amendments Clause

There are often times when circumstances change and the terms of a contract no longer accomplish the objectives of the parties. In those situations, it’s important to follow the process outlined in your amendments clause in order to modify the existing contract. An amendment does not replace the entire original contract, just the part that is being modified. Having a clear amendments clause in your contract will help reduce...

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