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I'll create a summary for the Contract Extension Letter following your formatting guidelines:
Contract Extension Letter: Formally Extend an Existing Contract Through Correspondence
A Contract Extension Letter is a written document sent from one party to another to propose extending the duration of an existing contract that is approaching its expiration date. This simple format allows for a quick and straightforward extension without creating a completely new agreement.
Your Contract Extension Letter made in Bind will include:
Opening and Subject Line
This section contains the greeting to the recipient and a clear subject line indicating the purpose of the letter - to extend the term of an existing contract. This immediately communicates the intent of the correspondence.
Reference to Original Agreement
This part identifies the original contract being extended, including the names of both parties, the subject matter of the agreement, the date it was signed, and its current expiration date. It establishes the foundation for the extension being proposed.
Extension Proposal
The extension proposal clearly states the current expiration date of the agreement and proposes a specific new end date for the extended term. This section defines exactly how long the extension will last.
Continuation of Terms
This section clarifies that except for the change in duration, all other terms and conditions of the original contract will remain in full force and effect during the extension period. It also establishes that in case of any conflict between the letter and the original contract, the extension letter prevails.
Confirmation Request
The letter concludes with a request for the recipient to confirm their agreement to the proposed extension terms, typically by return email, before proceeding with formal signature. This section outlines the next steps in the process.
Signature
The letter ends with a formal closing and space for the sender's signature, name, and position, establishing who is proposing the extension.
Creating a Contract Extension Letter through Bind provides a simple and efficient way to extend business relationships when contracts approach their end date. This straightforward document focuses specifically on extending the duration while maintaining all other terms that have been working well for both parties. The letter format is ideal for situations where a quick extension is needed without the complexity of a full amendment agreement.
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