This clause sets out the exact steps required to change the contract after you've both signed it. For example, it might say "all changes must be in writing and signed by both parties' directors." This matters because it prevents confusion about whether a casual email counts as a real change. Without clear procedures, one person might think they've changed the deal while the other disagrees. This protects you by making sure any changes are deliberate and documented.
Make sure the amendment procedure is realistic for how you'll actually work together—if it requires approval from five people every time, you'll struggle. Also check whether it allows electronic signatures or requires wet signatures, and ensure that matches your business practice. ---
Frequently Asked Questions
What does this clause mean in simple terms?
This clause sets out the exact steps required to change the contract after you've both signed it.
Why should I care about this clause?
For example, it might say "all changes must be in writing and signed by both parties' directors." This matters because it prevents confusion about whether a casual email counts as a real change.
What are my options?
Without clear procedures, one person might think they've changed the deal while the other disagrees.
How does this affect small businesses?
This protects you by making sure any changes are deliberate and documented.