oboloo

oboloo Glossary

Contract Amendment

oboloo Glossary

Contract Amendment

Contract Amendment

A contract amendment is a change or addition to an existing contract. Contract amendments are used to modify the terms of an agreement between two or more parties. The amendment process can be used to make changes to the contract’s expiration date, scope of work, compensation, and other important details.

Contract amendments must be made in writing and signed by all parties involved in the original agreement. The amendment should include the date of the modification, the reason for the change, and a description of how the amendment will alter the existing contract. All parties must agree to the amendment before it can go into effect.

If you need to make a change to your contract, start by drafting a contract amendment. Make sure to include all relevant details and get all parties involved in the agreement to sign off on the amendment. Once everyone has signed, the amendment will become part of your existing contract and will be legally binding.

Want to find out more about procurement?

Access more blogs, articles and FAQ's relating to procurement

Oboloo transparent

The smarter way to have full visibility & control of your suppliers

Contact

Feel free to contact us here. Our support team will get back to you as soon as possible

Oboloo transparent

The smarter way to have full visibility & control of your suppliers

Contact

Feel free to contact us here. Our support team will get back to you as soon as possible

© 2024 oboloo Limited. All rights reserved. Republication or redistribution of oboloo content, including by framing or similar means, is prohibited without the prior written consent of oboloo Limited. oboloo, Be Supplier Smart and the oboloo logo are registered trademarks of oboloo Limited and its affiliated companies. Trademark numbers: UK00003466421 & UK00003575938 Company Number 12420854. ICO Reference Number: ZA764971