Meaning of Contract Amendment (What it is, Concept and Definition)

Contract Amendment means add information to a particular contract, when it is necessary to correct or clarify a specific clause, or complement it with new data missing from the original contract.

The amendment to the contract is a legal instrument used to change data either in employment contract, lease agreement, financing agreement, purchase and sale agreement, among others. The terms "contract amendment" and "contract amendment" have the same meaning.

In general, the amendment to the contract must contain the following information: personal data of the contracting parties (individual or legal entity), information on what has been agreed in the original contract, the number of the clause that will be amended and the respective modifications, indication that the other clauses will remain unchanged and signature of the parties contractors.

To formalize the amendment to the contract, the same legal formalities assigned to the original contract are necessary, that is, proceed with the registration with the competent bodies.

It is not foreseen that there will be an amendment in contracts whose terms of validity have expired.

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