Amending Contracts

A contract change is a modification to the original agreement. Contract changes can be made at any time after an executed and signed document, but they will always modify the terms of that specific contractual execution.
Many factors may affect contract amendments: A company’s expansion or contraction, for example, could warrant a new amendment adding or subtracting employees from those who are benefiting under current provisions; unforeseen circumstances such as lawsuits can result in alterations to indemnification agreements; financial difficulties on behalf of either party might require renegotiation of payment schedules and rates with vendors and service providers.