The Contract Extension Addendum is a crucial legal instrument used in New Zealand business operations when parties wish to extend their existing contractual relationship beyond the originally agreed term. This document type is particularly relevant when organizations need to maintain business continuity without negotiating an entirely new contract. The addendum must comply with New Zealand contract law requirements and typically includes specific details about the extension period, any modifications to existing terms, and confirmation of which original contract provisions remain in effect. It's commonly used across various industries and is particularly valuable for ongoing service agreements, lease arrangements, and employment contracts. The document should be drafted with careful consideration of the Contract and Commercial Law Act 2017 and other relevant New Zealand legislation to ensure enforceability.
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1. Parties: Identification of all parties to the original agreement and confirmation that they remain the same for the extension
2. Background: Reference to the original agreement, including its date and purpose, and the parties' desire to extend it
3. Definitions: Key terms used in the addendum, including reference to definitions from the original agreement that remain applicable
4. Extension Term: Specific details of the extension period, including start and end dates
5. Confirmation of Terms: Statement confirming which original terms and conditions remain in effect
6. Execution: Signature blocks for all parties and date of execution
1. Modified Terms: Used when any original terms need to be modified along with the extension
2. Additional Provisions: Used when new terms need to be added as part of the extension
3. Consideration: Include when there are changes to pricing or payment terms for the extension period
4. Performance Review: Added when the extension is conditional on past performance or includes new performance metrics
5. Early Termination Rights: Include when specific termination rights during the extension period need to be outlined
6. Regulatory Compliance: Used when new regulatory requirements need to be addressed in the extension
1. Schedule 1 - Original Agreement: Copy or reference to the original agreement being extended
2. Schedule 2 - Updated Pricing: Details of any price adjustments or new pricing structures for the extension period
3. Schedule 3 - Performance Metrics: Updated or new performance indicators or service levels for the extension period
4. Appendix A - Supporting Documents: Any relevant certificates, permits, or other documents required for the extension
5. Appendix B - Change Log: Detailed list of any modifications to the original agreement terms
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