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Addendum To Existing Contract
"I need an Addendum to Existing Contract to modify our supply agreement with a Saudi distributor, extending the term by 3 years until March 2025 and updating the pricing schedule to account for new product lines."
1. Parties: Identification of all parties to the original agreement and addendum
2. Background: Reference to the original agreement, its date, and brief context for the modification
3. Definitions: Key terms used in the addendum, including reference to definitions in the original agreement
4. Amendment Details: Specific modifications to the original agreement, clearly stating what is being changed, added, or removed
5. Effect on Original Agreement: Statement confirming all other terms of the original agreement remain in full force and effect
6. Governing Law: Confirmation of Saudi law and Sharia principles as governing law
7. Execution: Signature blocks and formal execution requirements under Saudi law
1. Recitals: Additional context or whereas clauses explaining the business need for the modification - used when complex changes need detailed explanation
2. Consideration: Statement of consideration if the amendment involves new or modified payment terms
3. Effective Date: Specific section on when the modifications take effect - used when implementation date differs from signing date
4. Regulatory Compliance: Additional compliance statements if the modification relates to regulated activities or government contracts
5. Translation Clause: Required when the addendum is bilingual Arabic/English, specifying which version prevails
6. Notice Details: Updated notice details section - only needed if contact information or notice requirements are changing
1. Schedule of Amendments: Detailed listing of specific clauses being modified, showing original and new text
2. Updated Price Schedule: If the modification involves price changes, detailed revised pricing information
3. Revised Timeline: If the modification affects project timelines or delivery dates
4. Authorization Documents: Copies of corporate authorizations or powers of attorney required under Saudi law
5. Arabic Translation: Official Arabic translation if the original document is in English
Authors
Oil & Gas
Construction
Manufacturing
Technology
Financial Services
Healthcare
Retail
Transportation & Logistics
Real Estate
Telecommunications
Professional Services
Government Services
Education
Energy
Legal
Procurement
Commercial
Operations
Finance
Compliance
Risk Management
Business Development
Project Management
Corporate Affairs
Executive Leadership
Legal Counsel
Contract Manager
Commercial Director
Business Development Manager
Project Manager
Procurement Manager
Compliance Officer
Chief Legal Officer
Operations Manager
Finance Director
General Manager
Country Manager
Risk Manager
Corporate Secretary
Managing Director
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