A Contract Extension Agreement, also known as a Contract Extension Letter or Extension of Contract Agreement, is used to extend the duration of an existing contract that is nearing its end. Instead of drafting a new contract or issuing a separate amendment, this agreement allows the parties to continue under the same terms with a revised end date. It provides a simple and efficient way to make time-related changes to an ongoing agreement.
A Contract Extension Agreement should clearly state the effective date of the extension, the names and addresses of the parties involved along with their authorized signatories, and reference the original contract’s name and date. It must specify the original contract’s end date, the new extended end date, and detail any changes to the original terms, highlighting which sections are amended, added, or removed. Attaching a copy of the original contract can help clarify the adjustments made.
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