Extension Agreements are essential tools in Singapore's commercial landscape when parties wish to continue their contractual relationship beyond the original term. This document type is particularly relevant when the original agreement is approaching its expiration date but the commercial relationship remains valuable to all parties. The Extension Agreement can maintain the original terms or incorporate modifications to reflect changed circumstances, all while ensuring compliance with Singapore contract law and regulatory requirements. It should clearly reference the original agreement and specify which terms are being extended or modified.
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1. Parties: Identification of all parties to the extension agreement
2. Background: Details of the original agreement and reason for extension
3. Definitions: Key terms used in the agreement
4. Extension Terms: Specific details of the extension period and any modified terms
5. Effect on Original Agreement: Statement on which original terms remain in force
6. Execution: Signature blocks and execution details
1. Modified Terms: Section detailing any changes to original terms - include when original terms need modification during extension period
2. Additional Consideration: Section detailing any new payment or consideration - include when extension involves additional payment or consideration
3. Conditions Precedent: Section outlining conditions that must be met for extension to take effect - include when extension is subject to specific conditions
1. Schedule of Amended Terms: Detailed list of specific terms being modified
2. Schedule of Dates: Key dates including extension period start and end dates
3. Original Agreement: Copy of the original agreement being extended
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