An addendum contract is an agreed-upon complement to the initial agreement made by all sides. It specifies the parts and meanings including the particular conditions, provisions, etc., to be altered in the initial agreement, but otherwise leaves the rest of the contract in absolute force and effect. Addendum contract templates are used to make these additions to the original contract.
6 Steps to Make an Addendum Contract
Step 1: Make a New Document But Keep It Consistent With the Original
The first step to creating an addendum contract is to make a new document. This document should state in clear and concise terms that an addendum is being added to the existing contract. The addendum must appear like that of the initial agreement so the two papers are clearly linked. It should be indicative that the two contracts are connected. To ensure this you need to use the same typography and style as of the original contract.
Step 2: Specify the Original Parties
The next step is to identify the parties that originally took part in the agreement. The details of any third party who had been a part of the agreement should be mentioned in the addendum contract. This section also needs to include the date of drafting the original contract as well as the date when the addendum is being added. The document should also have a title that should start with ‘Addendum to’ and then the name of the actual contract.
Step 3: Ensure That the Addendum is Complimentary
To be legally enforceable, your addendum must conform to the conditions of the current agreement. The conditions under which it can be modified will often be specified by an agreement. Before planning the addendum, it is also essential that you consult the conditions of the current agreement with all parties involved. Also, keep in mind not add any addendum that changes specific rights or responsibilities.
Step 4: Specify the Essential Terms
In general, unless otherwise specified in the conditions of the agreement, a legitimate addition or alteration needs shared consent. This implies that the major components of the addendum must be fully understood and agreed upon by all sides. You need to discuss the adjustments you want to develop with the other sides before preparing the addendum. Ensure that everyone in the addendum knows and confirms with their new freedoms and responsibilities.
Step 5: Determine the Addendum Clause
Once agreed upon by all parties, you need to determine the addendum. Any kind of contract contains a lot of clauses as decided and agreed upon by the involved parties. Addendums are usually added to one or two clauses. This generally does not exceed three clauses. Keep in mind to mention the addendums along with the original clauses word by word. In explaining the changes, be evident, thorough and concise. Specify whether each element supplements or alters the previous one, or is a fresh element altogether in the agreement.
Step 6: Put Signatures and the Date
This is the final of drafting this contract. At the end of the contract, you need to provide spaces for putting the signature and date at the end of the document. However, you need to prepare a rough draft first. Once you have an addendum draft, submit it for evaluation to the other parties. Do not sign the addendum until the vital conditions have been agreed upon by everyone. When it has been signed, it is advised to make a photocopy of the new contract to keep for your records and also send a copy of it to all parties concerned.
7+ Addendum Contract Templates
1. Employee Addendum Contract Template
A written contract is permanent once it has been signed. However, if you create a modification to the agreement or add a new element, it must be recorded. And to record this change or addition, you need to make an addendum contract. And with this addendum contract sample template, you can easily make adjustments to your original agreement. You can even make a sales addendum using the template.
2. Professional Addendum Contract Example
If you believe that you need to make changes to or adjust the actual agreement, then you need to make an addendum contract for the same. Which is why we are offering you this contract template example. Use this template to help you in the process of drafting an addendum contract. The template can be downloaded in PDF format.
3. Addendum for Vendor Contract Template
An addendum is added to modify aspects of a contract to ensure that all parties agree with the content. Specific clauses need to be included in this contract to make it legally valid. Make use of this addendum contract template sample to help you in that task. You can also edit the given content in the file.
4. Exchange Addendum Contract Example
This Exchange Addendum Contract Example provides you with a sample file featuring an exchange contract. The template contains original and suggestive headings and content including spaces for providing the date, the name of the parties, and other similar ones. You just need to download the free contract template and then fill in the necessary information.
5. Basic Addendum Contract Template
Do you have to make adjustments to your existing contract or add new elements? Are you looking for a tool to help you with that task? Well, you need not look any further than this addendum agreement template that has been specially designed to help you in this purpose. To use the file, you have to download it in PDF format.
6. Deed Contract Addendum Example
An addendum to an agreement is a modification or addition introduced to a pre-existing agreement to amend the agreement conditions. If you too want to make changes to your existing contract, then you need to make an addendum contract. And you will find no better tool to use for that task than this contract file. The document is very easily downloadable in any OS.
7. Formal Contract Addendum Template
This addendum contract file is to be used when two or more parties want to make amendments to the existing clauses of their contract. The template contains original content and headings that can help you make such an agreement for your needs. The template can be downloaded in PDF and the file can also be edited.
8. Financing Addendum Contract Example
An addendum to a contract is a document attached to a current contract to amend the conditions of the agreement. Any modification that is not integrated through a distinct document into a current agreement is not considered to be an addendum. Don’t let this be a risk for your contract, and make an addendum contract with the help of this addendum contract template.