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Extension Agreement for Pakistan

Extension Agreement Template for Pakistan

A formal legal document governed by Pakistani law that extends the duration of an existing agreement while maintaining or modifying its original terms and conditions. This document serves to continue the legal relationship between the parties beyond the original termination date, incorporating necessary updates or modifications while ensuring compliance with Pakistani contract law, including the Contract Act 1872. The agreement includes specific provisions for the extended term, any revised terms, and maintains the enforceability of the original agreement's core provisions.

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What is a Extension Agreement?

An Extension Agreement is a crucial legal instrument used when parties wish to continue their contractual relationship beyond the originally agreed term. Under Pakistani law, this document type provides a formal mechanism to extend an existing agreement's duration while potentially updating certain terms to reflect current circumstances. It's particularly valuable when the original agreement is performing satisfactorily but approaching its expiration date, or when business requirements necessitate continuation of services or obligations. The document must comply with Pakistani contract law requirements, including the Contract Act 1872, and should clearly reference the original agreement while specifying any modifications to terms, pricing, or scope for the extension period. This type of agreement is commonly used in various commercial contexts, from service contracts to lease agreements, and must be properly executed with appropriate stamps and registrations as required by Pakistani law.

What sections should be included in a Extension Agreement?

1. Parties: Identification of all parties to the extension agreement (must match the original agreement parties unless there are permitted assignments/transfers)

2. Background: Reference to the original agreement, its date, parties, and purpose; explanation of why the extension is needed

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

4. Extension Term: Clear specification of the new duration or extended period, including start and end dates

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

6. Consideration: Statement of any consideration paid for the extension, if applicable

7. Representations and Warranties: Current representations about the parties' status and authority to extend the agreement

8. Governing Law: Confirmation of Pakistani law as governing law and jurisdiction

9. Execution: Signature blocks, witness requirements, and attestation as required under Pakistani law

What sections are optional to include in a Extension Agreement?

1. Modified Terms: Include this section if any terms besides duration are being modified along with the extension

2. Additional Services/Scope: Include if the extension involves any expansion or modification of services or scope

3. Price Adjustment: Include if there are any price changes associated with the extension period

4. Performance Review: Include if extension is conditional on review of past performance

5. Regulatory Compliance: Include if specific regulatory requirements need to be addressed for the extension period

6. Exit Rights: Include if special termination rights are needed for the extension period

7. Security Arrangements: Include if new or continued security/guarantees are required for the extension

What schedules should be included in a Extension Agreement?

1. Schedule 1 - Original Agreement: Copy of the original agreement being extended

2. Schedule 2 - Updated Pricing: If applicable, detailed pricing for the extension period

3. Schedule 3 - Modified Terms: Detailed list of any terms being modified, if applicable

4. Schedule 4 - Performance Metrics: Updated or continued performance metrics for the extension period, if applicable

5. Appendix A - Required Approvals: Copies of any regulatory or corporate approvals required for the extension

6. Appendix B - Updated Contact Information: Current contact details for notices and communications during the extended period

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

Pakistan

Publisher

Ƶ

Document Type

Agreement Contract

Cost

Free to use
Relevant legal definitions

























Clauses

























Relevant Industries

Manufacturing

Technology Services

Construction

Real Estate

Financial Services

Healthcare

Telecommunications

Energy

Retail

Professional Services

Education

Transportation and Logistics

Agriculture

Relevant Teams

Legal

Procurement

Commercial

Finance

Operations

Compliance

Risk Management

Business Development

Contract Administration

Corporate Secretariat

Relevant Roles

Legal Counsel

Contract Manager

Commercial Director

Chief Executive Officer

Chief Financial Officer

Procurement Manager

Business Development Manager

Operations Director

Project Manager

Compliance Officer

Risk Manager

General Manager

Company Secretary

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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