Addendum to Agreement

What is an Addendum to Agreement?

An Addendum to Agreement is a document that allows parties to an existing contract to add terms or supplementary information.

An addendum does not replace the entire contract, it only addresses the specific part being supplemented. This document is usually used when minor additions are made. If the parties are making substantial add-ons, a new document altogether should be drafted.

This is a general addendum which can be used for various types of contracts, such as sales agreements, certain types of domestic contracts, commercial contracts, employment contracts, and more.

For example, suppose that two parties enter into a partnership agreement and realize the profit-sharing structure outlined needs additional information. Rather than re-writing the contract, they can make an addendum with supplementary information that better details the percentages of profits and losses.

What is the difference between an Amendment to Agreement and an Addendum to Agreement?

If the parties want to amend the original contract, as opposed to making additions, they should sign an amendment to agreement instead.

An addendum is an additional document that is added to provide further details or specific information to an existing section. On the other hand, an amendment alters or modifies the original document and changes the intent behind a specific section of an agreement.

What must an Addendum to Agreement contain?

An Addendum to Agreement must contain information about the original contract, including the date it was signed and its purpose. The Addendum must also include the number of changes being made, the specific sections being supplemented, and a new clause adding the supplementary information.

What has to be done once an Addendum to Agreement is ready?

The parties to the existing contract must agree to the additions being made, such as new terms and conditions. Once the changes are agreed upon, they can sign this addendum to agreement. The document should then be included with the original contract.

This document allows the parties to make more than one addition if necessary.

After the document is signed, either physically or electronically, the contracting parties must keep a copy of the document for their records.

Which laws are applicable to an Addendum to Agreement?

The law of contracts applies to this Addendum to Agreement, which may vary depending on the Province or Territory. The jurisdiction will be the Province or Territory selected by the parties. Also, depending on the type of existing contract being amended, specific laws may apply.

How to modify the template?

You fill out a form. The document is created before your eyes as you respond to the questions.

At the end, you receive it in Word and PDF formats. You can modify it and reuse it.