oboloo Glossary

Contract Variation

oboloo Glossary

Contract Variation

Contract Variation Definition

A contract variation is a change or addition to an existing contract. The variation can be made to the terms, conditions, or specifications of the contract, and must be agreed upon by both parties in order to be valid.

There are many reasons why a contract might need to be varied. For example, if one party needs to make changes to the way they perform their work under the contract, they will need to agree on these changes with the other party before implementing them. Otherwise, the other party may not be obliged to uphold their end of the bargain. In some cases, a court may also order a contract to be varied.

It’s important to remember that not all changes to a contract constitute a variation. For instance, if there is simply an error in the contract that needs to be corrected, this would not usually be considered a variation. Similarly, if one party unilaterally decides to make changes to how they carry out their obligations under the contract without consulting the other party first, this would also not usually be considered a variation.

If you’re unsure whether a proposed change constitutes a variation or not, it’s always best to seek legal advice before proceeding.