SayPro Contract Revision Log Template

SayPro Templates to Use: Contract Revision Log Template:

Contract Title:
[Insert the official name or reference of the contract]

Original Clause:
[Insert the exact text from the original contract clause that is being revised]

Revised Clause:
[Insert the newly revised text that will replace or amend the original clause]

Reason for Revision:
[Provide a clear and concise explanation for why the revision was necessary. This could include changes due to legal requirements, evolving business needs, error corrections, or negotiations between the parties involved.]

Stakeholder Approval:
[Indicate whether the revision was approved by the relevant stakeholders (Yes/No). If applicable, include signatures of the parties responsible for approving the change (e.g., legal team, contract manager, etc.) to confirm consent and agreement to the revision.]

Final Version:
[Insert the finalized version of the clause text after all revisions have been made, ensuring this represents the last agreed-upon version of the contract clause.]

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Example Entry:

Contract Title:
Software Licensing Agreement

Original Clause:
“The software shall be licensed to the client for a term of 12 months, beginning on the effective date of this agreement, and shall automatically renew for successive terms of 12 months unless either party provides written notice of termination.”

Revised Clause:
“The software shall be licensed to the client for an initial term of 12 months, beginning on the effective date of this agreement. Upon completion of the initial term, the agreement will automatically renew for successive terms of 6 months unless either party provides written notice of termination at least 30 days before the end of the current term.”

Reason for Revision:
The revision was necessary to shorten the renewal period from 12 months to 6 months in order to allow for more frequent review of terms and adapt to changing business conditions.

Stakeholder Approval:
Yes, approved by the legal team and the contract manager.

Final Version:
“The software shall be licensed to the client for an initial term of 12 months, beginning on the effective date of this agreement. Upon completion of the initial term, the agreement will automatically renew for successive terms of 6 months unless either party provides written notice of termination at least 30 days before the end of the current term.”