- Description of the contract
- Documents in the program
- Related instructions
Contract time - this is a period of time determined by the parties to the agreement during which the conditions of the concluded agreement are valid, and the obligations of the parties provided for in it are fulfilled.
In simple terms, the term of the contract is its "life". If the contract has expired, the contract "dies".
It is important to monitor the term of the agreement in order to avoid various negative legal consequences (and they, believe me, happen, and precisely when we do not expect this at all).
The most popular and simplest option for extending the contract is preparation and signing by the parties of an additional agreement to the contract on the extension of the term of such an agreement.
An agreement to amend the agreement (in particular, in terms of changing the term of the agreement in a larger direction) is made in the same form as the agreement, unless otherwise provided by legislation or agreement.
When extending the term of the contract keep in mind the following:
- Legislation for certain types of contracts a maximum validity period can be set contract. When the maximum period established by law is over, a new contract must be concluded.
- Changes to the contract are made in compliance with the form in which the contract itself was concludedR. If the agreement is concluded in a simple written form, then the agreement on the extension of the term of the agreement is concluded in writing, if the agreement is notarized, then the supplementary agreement to it is certified by a notary. If the agreement is subject to state registration, then amendments to the agreement are also subject to state registration.
- Changes can be made to the contract only when the contract is still valid... If the term of the agreement has expired and the agreement has ceased to be effective, then the changes to the agreement will be “legal fiction” (because you cannot make changes to something that has already “died”). It is quite logical that it is impossible to prolong what has already lost its force. So, for example, from a legal point of view, it is incorrect to conclude an additional agreement dated February 1, 2016 to an agreement that expired on January 1, 2016, on the extension of its validity period, even if you write in the additional agreement a phrase like "The effect of this additional the agreement applies to the relations of the parties that arose from January 1, 2016 ".
- The additional agreement on behalf of the parties to the agreement is signed by authorized persons (usually these are the persons who previously signed the contract itself).
When the parties sign both contracts and additional agreements, we recommend prescribing the validity period as simply and clearly as possible, it is desirable to indicate specific dates.
Remember that if you specify "the contract is valid until July 1, 2016" already on July 1, the agreement will expire, and if you specify "by July 1, 2016" the contract will expire on July 2, 2016 (due to the change of one preposition, a difference of 1 day is obtained).