What is an addendum to an agreement?
A contract addendum is an agreed-upon addition signed by all parties to the original contract. It details the specific terms, clauses, sections and definitions to be changed in the original contract but otherwise leaves it in full force and effect.
What is an amendment to an agreement?
When two parties create a legal contract, they are legally obligated to follow the terms of the written agreement. However, situations change, and contracts sometimes need to be adjusted. … A Contract Amendment document is used to modify the terms of an original contract.
Does an addendum have to be signed?
A contract addendum cannot be legally enforced unless both parties fully understand the new terms and agree to them in writing. All parties who signed the original contract must also sign the addendum; if one or more parties is unavailable, they can appoint agents who have authority to sign on their behalf.