In Contract Drafting, there are several possible add-ons to a contract or agreement:
Add-ons include:
- Amendment
- Addendum
- Annexes
- Schedules
Addendum: Its general meaning is an extra part added
to the end of speech or piece of writing.
In contract drafting, an addendum is a form of amendment to
a contract by adding new articles and clauses to initial contract or agreement
An addendum is used when all the terms of the contract still
apply, while the parties need to add additional terms and/or conditions to such
existing contract.
If the parties need to delete or cancel any of the contract
main terms, such action better be done by an amendment.
Amendment: its general meaning is the process of
altering or amending a law or document (such as contract).
An amendment is used by the parties to a contract to alter,
change, modify and/or amend some or all the initial contractual rights and
obligations, and/ or contractual procedures and conditions.
An amendment to a contract is drafted like a contract
including date, information of the parties and preamble. The preamble in an
amendment must include reference to the original contract and the desire of the
parties to amend it.
For each amended article put an article in the amendment. Same
applies to the addendum.
Annex: Its general meaning is to add something to a
larger thing
In Contract drafting, an Annex is a supplementary document,
report, or list that’s added at the end of the contract to complete the subject
of a referred article in the contract.
Schedule: its
general meaning is list of details, a plan of organized piece of work that
shows the time given to each part of the job.
In Contract drafting, a schedule is a written list of items,
fees/prices, due dates, inventory, names or indications that provides details
to a referred clause in the contract or act as a reference to an contractual clause.
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