Contract Title
This section should clearly define the title of the contract being renewed, which typically includes the contract’s original title or a descriptive phrase that identifies the contract.
Example: SayPro Services Agreement – Contract Renewal for 2025
Parties Involved
This section should specify the full legal names of all parties involved in the contract, along with their respective roles and any additional details such as addresses, company names, or representative titles.
Example:
This contract renewal agreement is entered into by and between:
- Party A: SayPro, Inc.
Address: 123 Business Blvd, Suite 100, City, State, ZIP Code
Represented by: John Doe, CEO - Party B: Client XYZ
Address: 456 Client Rd, Suite 200, City, State, ZIP Code
Represented by: Jane Smith, Director of Operations
Effective Date of Renewal
This section specifies the date on which the renewal of the contract will begin to take effect. It marks the start of the renewed terms and conditions.
Example: The renewal of this contract will become effective on March 1, 2025.
Renewed Terms and Conditions
This section should outline any changes, updates, or continuations to the original terms of the contract. If there are any adjustments, these should be clearly stated, along with any clauses that remain unchanged. The renewal may involve new pricing, service terms, deadlines, or any other key contractual obligations.
Example:
- Duration: The renewed contract will be valid for an additional 12 months, beginning on March 1, 2025, and ending on February 28, 2026.
- Pricing: The fee structure remains unchanged with the exception of a 5% increase in service fees, effective April 1, 2025.
- Scope of Work: The services provided under this renewal will be in accordance with the terms outlined in the original agreement dated March 1, 2023.
- Confidentiality Clause: All confidentiality and non-disclosure provisions outlined in Section 6 of the original agreement will remain in full force and effect for the duration of this renewal period.
- Termination: The contract may be terminated by either party with a 30-day written notice before the end of the renewal period.
Signatures and Approval
The final section includes the signatures of the authorized representatives from both parties, signifying their consent to the renewed terms and their intention to be bound by the terms of the renewal agreement.
Example:
Signed for and on behalf of SayPro, Inc.
By: ___________________________
Name: John Doe
Title: CEO
Date: _________________________
Signed for and on behalf of Client XYZ
By: ___________________________
Name: Jane Smith
Title: Director of Operations
Date: _________________________
Witnesses (if applicable):
- Witness 1: _____________________
Name: __________________________
Signature: ______________________
Date: ___________________________ - Witness 2: _____________________
Name: __________________________
Signature: ______________________
Date: ___________________________
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