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Addendum To Extend Contract Template for Australia

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Key Requirements PROMPT example:

Addendum To Extend Contract

"I need an Addendum to Extend Contract for our IT service agreement with TechServe Solutions, extending the current contract for an additional 24 months from March 2025, with a 5% annual price increase and updated service level requirements."

Document background
The Addendum To Extend Contract is a crucial document in Australian business operations, designed to provide a seamless continuation of existing contractual relationships. It is typically used when parties wish to extend their contractual arrangement beyond the original termination date without negotiating an entirely new agreement. This document type is particularly valuable in situations where the original contract terms remain largely suitable but require extension of duration and possibly minor modifications. The addendum must comply with Australian contract law principles and state-specific regulations, ensuring that the extension is legally enforceable and properly documented. It includes essential details such as the extension period, any pricing adjustments, updated performance requirements, and confirmation of continuing terms from the original agreement.
Suggested Sections

1. Parties: Identification of all parties to the original contract who are agreeing to the extension

2. Background: Reference to the original contract, its date, and current expiration date

3. Definitions: Key terms used in the addendum, including reference to definitions from the original contract

4. Extension Term: Specific details of the extension period, including new expiration date

5. Continuation of Terms: Confirmation that all other terms and conditions of the original contract remain in full force and effect

6. Execution: Signature blocks for all parties to execute the addendum

Optional Sections

1. Price Adjustment: Include when the extension involves changes to pricing or payment terms

2. Performance Modifications: Include when any service levels or performance requirements are being modified along with the extension

3. Additional Rights: Include when granting new rights or obligations during the extension period

4. Regulatory Compliance: Include when the extension needs to address new regulatory requirements

5. Extension Options: Include when providing for future extension options beyond the current extension

Suggested Schedules

1. Updated Pricing Schedule: Details of any price changes during the extension period

2. Revised Performance Metrics: Updated service levels or performance requirements if modified

3. Extension Timeline: Detailed timeline of the extension period including any milestone dates

4. Amended Terms: Full text of any original contract terms that are being modified along with the extension

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions




















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Relevant Industries

Information Technology

Professional Services

Construction

Manufacturing

Healthcare

Education

Retail

Real Estate

Financial Services

Telecommunications

Energy and Utilities

Mining and Resources

Transport and Logistics

Agriculture

Relevant Teams

Legal

Procurement

Commercial

Finance

Operations

Business Development

Compliance

Risk Management

Contract Administration

Project Management

Relevant Roles

Legal Counsel

Contract Manager

Procurement Manager

Business Development Manager

Commercial Director

Chief Financial Officer

Operations Manager

Project Manager

Account Executive

Relationship Manager

Compliance Officer

Risk Manager

General Manager

Chief Executive Officer

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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