A contract extension letter is a document that is used to request an extension of an existing contract. It is important to understand the terms of your original contract and what needs to be changed in order to extend it. A sample letter of contract extension can help you draft your own letter, ensuring that you cover all the necessary points.
Before beginning to draft your letter, review the original contract to ensure that an extension is allowed. Check for any renewal periods or other terms that need to be met in order to extend the contract. Once you have confirmed that an extension is possible, follow these steps to draft a successful letter.
1. Start by addressing the recipient of the letter. This could be an individual or an organization. Be sure to use their full name and title if available.
2. State that you are requesting an extension of the contract and the new desired end date. Include the original contract number, if available, to help identify which agreement you are referring to.
3. Explain why the extension is necessary. This could be due to unforeseen circumstances, a change in business needs, or an incomplete project. Be as specific as possible without going into too much detail.
4. Address any changes that need to be made to the original contract. This could include changes to payment terms, deadlines, or deliverables. Be clear and concise about what needs to be changed.
5. Close the letter by thanking the recipient for their time and consideration. Provide your contact information and offer to answer any questions they may have.
Here is a sample letter of contract extension:
[Your Name]
[Your Company]
[Date]
[Recipient Name]
[Recipient Title]
[Recipient Company]
Dear [Recipient Name],
I am writing to request an extension of our existing contract, which is set to expire on [original end date]. We would like to extend the contract to [new end date], and I am hoping that this request can be processed as quickly as possible.
The reason for this request is due to [explain why the extension is necessary]. We are committed to fulfilling our obligations under the original agreement, but we require additional time to complete the project to our mutual satisfaction. We believe that an extension is in the best interest of both parties.
In an effort to streamline the extension process, we would like to propose the following changes to the original contract: [list any changes that need to be made]. We believe that these changes will help us move forward in a mutually beneficial manner.
Thank you for your time and consideration. If you have any questions or concerns, please do not hesitate to contact me via [your contact information]. We look forward to your response.
Sincerely,
[Your Name]