Contract Variation Agreement
During the lifetime of a commercial contract, the parties to that contract may have cause to alter it in some way. This may be due, for example, to a change in business circumstances or to a renegotiation of the original agreement.
This Contract Variation Agreement is designed for use in such situations and sets out the agreed changes that are to be made to the contract in question. An optional clause is also included allowing the parties to provide reasons or further explanations for the changes. A further option is included which allows for situations in which a guarantor has guaranteed certain obligations under the agreement which is to be amended.
This template is a ‘contract’ version of our Deed of Variation of Agreement and thus includes a clause setting out the consideration that has been paid. It is important to note that consideration is required in order for the contract to be binding. If there is to be no consideration, a deed should be used.
Optional phrases / clauses are enclosed in square brackets. These should be read carefully and selected so as to be compatible with one another. Unused options should be removed from the document.
This Contract Variation Agreement contains the following clauses:
1. Definitions and Interpretation
2. Variation of the Main Agreement
3. [Reasons for Amendments]
4. [Guarantor's Consent]
5. [Conformed Copy]
7. Further Assurance
10. Law and Jurisdiction
and the following schedules:
1. The Main Agreement
2. Conformed Copy of the Main Agreement (As Amended)
This Contract Variation Agreement is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.
Once you have purchased access to the appropriate document folder click on the “Download Document” link below. You will be asked what you want to do with the file. It is recommended that you save the document to a location of your choice prior to viewing.