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This Precedent is a short form letter of extension between two parties, used to extend an existing contract beyond its initial term. Optional drafting is provided for any variations to the contract that the parties may additionally wish to include.

This Precedent is for use in situations where:

1. •

   there is an existing contract between two or more parties

2. •

   the parties, by consent, wish to extend the term of the contract and/or change certain provisions of the contract (whether to delete, amend or add further provisions)

3. •

   there are no provisions within the existing contract which permit the extension or change of some or all of its provisions without entering into a written form of variation, and

4. •

   the parties are satisfied that there is consideration for the extension or variation and so do not need it to be effected by way of deed

The existing contract should be checked for any provisions relating to extension or variation. It should also be checked carefully for anything that might need to be amended as a consequence of the extension (for example, charges).

The Precedent provides