A contract extension agreement extends the terms of an existing contract
- Extending the time allowed for the performance of contracted work.
- Documenting a delay in the execution of a contract.
Once a contract has been created the parties are bound to its terms unless they mutually agree otherwise. Any deviation from the terms and conditions of a contract may place one or more parties in breach of the agreement, which can give rise to legal liability. In circumstances where a contract is taking longer to complete than anticipated, use a contract extension agreement to formally expand the period of time for the work to be performed.
All changes to a contract should be clear and well-documented. Written changes are commonly required to change construction contracts, as small deviations from the terms of one agreement may impact the project as a whole.
Whether a shipment of materials was delayed, a particular product is no longer available, you’ve been delayed due to weather, or the project manager wants to hire you for additional work, use a contract extension agreement any time you are documenting an extension to the project’s timeframe. A contract extension agreement will explain the nature of the delay, how it will be addressed, any costs or repayments necessary due to the delay, and the new timeframe for the work to be carried out.
A contract extension legally amends an existing contract, so all parties to the agreement should be clear on exactly how changes are to be made. Use this interactive form to create a document that legally amends the time that contractors have to complete work on your project.