Document background
The Agreement To Amend and Extend Contract is a crucial legal instrument in Philippine business practice, commonly used when parties wish to modify terms of an existing contract while extending its duration. This document type is particularly relevant when business relationships evolve and require adjustments to original terms without completely terminating and creating a new agreement. It must comply with Philippine contract law, specifically the Civil Code's provisions on contract modifications and the Statute of Frauds. The document is typically employed when parties have an existing successful relationship but need to update specific terms, prices, scope, or other contractual elements while maintaining the fundamental nature of their agreement. It's essential for business continuity and relationship management, providing a clear audit trail of contract changes while ensuring legal compliance and protection for all parties involved.
