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Extension Agreement for Hong Kong

Extension Agreement Template for Hong Kong

A Hong Kong Extension Agreement is a formal legal document that extends the duration of an existing contract while maintaining or modifying its original terms and conditions. Operating under Hong Kong's common law system, this agreement ensures continuous legal binding between parties beyond the original contract's expiration date. The document addresses key elements including the extension period, any variations to original terms, consideration if applicable, and ensures compliance with Hong Kong contract law principles. It serves as a more efficient alternative to drafting an entirely new agreement while providing clear documentation of the parties' intention to continue their contractual relationship.

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What is a Extension Agreement?

The Extension Agreement is a crucial document in Hong Kong's business landscape, used when parties wish to continue their contractual relationship beyond the original agreement's term. This document type is particularly relevant in Hong Kong's dynamic business environment, where commercial relationships often evolve and require flexibility. The Extension Agreement allows parties to efficiently extend their existing arrangements without the need for a complete contract renegotiation, while providing an opportunity to update specific terms if needed. It must comply with Hong Kong contract law requirements and typically includes details about the extension period, any modified terms, and confirmation of continuing obligations. This document is commonly used for various commercial arrangements including leases, service agreements, employment contracts, and business collaborations, making it a fundamental tool for business continuity in Hong Kong.

What sections should be included in a Extension Agreement?

1. Parties: Identifies all parties to the extension agreement, which should match the original agreement unless there are permitted assignments or variations

2. Background: Recitals detailing the original agreement, its date, and the parties' intention to extend the agreement

3. Definitions: Key terms used in the extension agreement, incorporating definitions from the original agreement as necessary

4. Extension Term: Clearly specifies the new duration of the agreement and the effective date of the extension

5. Continuation of Original Terms: Confirms which terms from the original agreement remain in force during the extension period

6. Consideration: States any payment or other consideration for the extension, if applicable

7. Representations and Warranties: Confirms parties' continuing authority to extend and perform the agreement

8. Governing Law and Jurisdiction: Confirms Hong Kong law governs the extension agreement

9. Execution: Signature blocks for all parties

What sections are optional to include in a Extension Agreement?

1. Amendments to Original Agreement: Include when any original terms need modification during the extension period

2. Additional Conditions: Include when new conditions apply specifically to the extension period

3. Regulatory Compliance: Include when the extension needs to address specific regulatory requirements or changes

4. Break Clause: Include when parties want the ability to terminate the extension early under specific circumstances

5. Performance Review: Include when the extension is conditional on meeting certain performance criteria

6. Third Party Consents: Include when the extension requires approval from third parties

7. Fee Adjustments: Include when prices, fees, or payment terms change during the extension period

What schedules should be included in a Extension Agreement?

1. Schedule 1 - Original Agreement: Copy or reference to the original agreement being extended

2. Schedule 2 - Modified Terms: Detailed list of any terms that are being modified during the extension period

3. Schedule 3 - Performance Metrics: If applicable, specific performance criteria or KPIs that apply during the extension

4. Appendix A - Required Consents: Copies of any third-party or regulatory consents required for the extension

Authors

Alex Denne

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

Jurisdiction

Hong Kong

Publisher

Ƶ

Document Type

Service Letter

Cost

Free to use
Relevant legal definitions

























Clauses
























Relevant Industries

Real Estate

Financial Services

Professional Services

Technology

Manufacturing

Retail

Construction

Healthcare

Education

Telecommunications

Logistics

Import/Export

Hospitality

Media and Entertainment

Relevant Teams

Legal

Procurement

Commercial

Operations

Compliance

Risk Management

Business Development

Contract Administration

Corporate Secretarial

Finance

Property Management

Project Management

Relevant Roles

Legal Counsel

Contract Manager

Commercial Director

Business Development Manager

Procurement Manager

Corporate Secretary

Compliance Officer

Property Manager

Operations Director

Project Manager

Account Manager

CEO

CFO

General Manager

Risk Manager

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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