When things are going well and you want to continue the duration of an existing contract, a Contract Extension Agreement makes it easy. You don't have to create a whole new contract; with a Contract Extension Agreement, you can simply alter the end date of the original. Once the extension is in place, you can keep moving forward.
Use the Contract Extension Agreement document if:
Your contract is about to end and the parties wish to extend the contract beyond the original end date.
The parties wish to set a new termination date and make other changes to the original contract.
Create a Contract Extension Agreement to increase the duration of your existing contract. If you're happy with an existing contract that's about to end, or you want to make some changes that include extending the termination date, it's often simpler to have a Contract Extension Agreement than to write a whole new contract or an additional Contract Amendment document. Your Contract Extension Agreement should include details like: the effective date of the extension agreement; the names and addresses of the parties involved, and their signatories; the name and date of the original contract; the end date of the original contract; the end date of this extension; and any amendments to any provisions of the original document (be specific about which part is being changed, added to, or deleted). You may wish to attach the original document to the extension agreement, so you can clearly see what adjustments were made. Other names for this document: Contract Extension Letter, Extension of Contract Agreement