How do you write a contract renewal?

The easiest way to write a contract renewal is to use a template and make changes to reflect your specific situation. Using PandaDoc’s templates, you can easily customize a contract renewal to fit your needs and then distribute it securely to all parties via email.

What is the difference between an extension and renewal of a contract?

An extension only adds more time to the original contract, but a contract renewal offers all parties the opportunity to negotiate the terms and time frame. Typically, you would execute a contract extension with just a letter, not a new contract.

What is the contract renewal procedure?

Typically, the contract renewal procedure involves one party sending a renewal notice a few weeks before the renewal begins. Then both parties will negotiate the terms (fees, time frame, responsibilities, etc.) before signing the new agreement on a specific date. Once all parties sign and date, the contract renewal will take effect after the original agreement expires.

Created by:

[Sender.FirstName][Sender.LastName][Sender.Title]

[Sender.Phone]

[Sender.Email]

Contract Renewal Template

Prepared for:

[Client.FirstName], [Client.LastName]

[Client.StreetAddress]

[Client.Phone]

[Client.Email]

This renewal agreement is entered into by [Client.FirstName][Client.LastName] and [Sender.FirstName][Sender.LastName] (hereafter known as “parties”) on this date (enter the contract renewal date). The contract renewal is a legally binding agreement intended to continue the Original Contract (name the contract) for a period of (enter length of renewal). The agreement made between [Client.FirstName][Client.LastName] and [Sender.FirstName][Sender.LastName] will continue uninterrupted until such date (enter the expiration date) and may be renewed again on or before that date for an extended period.

Contract Party Details

The Original Contract (name the contract) was signed on (enter date here) and was entered into freely by the following parties:

Company Details

Sender Name: [Sender.FirstName][Sender.LastName]

Company: [Sender.Company]

Title: [Sender.Title]

Address: [Sender.StreetAddress], [Sender.City], [Sender.State]

[Sender.PostalCode][Sender.Country]

Phone: [Sender.Phone]

Email: [Sender.Email]

Client Details

Client Name: [Client.FirstName][Client.LastName]

Company: [Client.Company]

Title: [Client.Title]

Address: [Client.StreetAddress], [Client.City], [Client.State][Client.PostalCode][Client.Country]

Phone: [Client.Phone]

Email: [Client.Email]

The Original Agreement was for the term of (enter start date) to (enter end date).

The contractual terms of the agreement state that (insert what the contract was for and who is responsible for what).

This renewal contract extends the timeframe of the original agreement, but all terms of the contract remain the same, except as noted below.

Renewal Terms

As part of this contract renewal, each party has the option to renegotiate the terms of the agreement. Some of the options to change include the following:

The renewal term – the period of time the extension will last. Fees – how much one party pays the other for goods or services. Change in benefits or responsibilities.

The current terms will be automatically extended by signing this contract unless the parties negotiate different terms. All parties have until (enter date) to renegotiate the terms of this renewal. The present conditions of this agreement include the following:

Areas of Responsibilities

As pursuant to this agreement, each party is tasked with the following responsibilities. (Detail what each party must do to uphold the agreement legally).

Payments

The following payments will be paid as a condition of this contract for products/services rendered. (Detail how much each party will be paid for delivering a specific product or service and how frequently).

Special Conditions

[Sender.FirstName][Sender.LastName] reserves the right to renegotiate this contract with reasonable modifications at any time within the current term. If [Client.FirstName][Client.LastName] does not agree to the new terms; the contract may be dissolved with a 30-day written notice.

Termination of the Contract

Either party may terminate this contract with a 30-day written notice to all other parties. Any outstanding fees up to the termination date will be paid in full within 30 days after the termination date. All parties agree to return any company-owned equipment, supplies, and other materials pursuant to this agreement to the company upon written notice of termination.

Agreement to Renew

Automate your contract renewals, so you don’t miss any critical deadlines.

WHEREAS the parties agree to extend the term of the Original Contract in accordance with the terms of the original agreement and any modifications listed here.

In consideration of the mutual covenants contained herein, both [Sender.FirstName][Sender.LastName] and [Client.FirstName][Client.LastName] agree as follows:

This contract renewal is an extension of the Original Contract (attached) and will end on (enter expiration date).

All parties agree to extend the Original Contract for an additional period which will begin immediately upon the expiration of the Original Contract termination date and continue until (enter new expiration date).

Additionally, the following provisions of the Original Contract are amended by the following changes:

(Insert any changes from the Original Contract).

The Original Contract and this extension are the entire agreement between the Parties and legally bind and benefit those included. This agreement is non-transferable and does not apply to any successors or beneficiaries should one of the parties perish before the end of the term.

All other terms and conditions of the Original Contract remain the same.

The following parties signed this agreement on this date (enter date).

Signature

MM / DD / YYYY

[Client.FirstName][Client.LastName]