After a joint venture agreement has been signed, a change in events or in the parties’ intentions can necessitate an amendment to the agreement. If all of the parties agree to the change and sign additional documents, any term in the existing agreement can be amended.
You can use an amendment to make the parties’ agreement clearer. Alternatively, a change in business climate or local laws may have caused you to rethink clauses that seemed reasonable when drafted, but have since become unworkable. Rather than leave parties shackled to a dated or impractical agreement, amendments allow contracts to reflect the changing interests and priorities of the signing parties. Indeed, the amendment process itself allows for continuing dialogue between the parties, a fact that develops and solidifies successful business relationships.
This package contains everything you’ll need to amend your agreement. A written contract minimizes confusion, misunderstanding, and error, and sets forth the parties’ expectations and fulfillment obligations. If mistakes happen or changes occur, amendments can correct or clarify the issues immediately. In every way, this promotes a successful and profitable business arrangement.
AMENDMENT TO JOINT VENTURE AGREEMENT This Amendment to Joint Venture Agreement (the “Amendment”) is entered into as of ______________, 20 _____, by and between _______________ (“Party One”) and _______________ (“Party Two”) (collectively the “Parties”). RECITALS WHEREAS, Party One and Party Two are parties to that certain joint venture agreement dated as of ____________, 20___ (the “Agreement), a copy of which is attached as Exhibit A hereto and made a part hereof by reference; and WHEREAS, pursuant to Section __________ of the Agreement relating to amendments thereto, the Parties hereby desire to amend the Agreement. NOW THEREFORE, in consideration of the above recitals and the mutual benefits contained herein, the Parties hereby agree as follows: 1. PURPOSE OF AMENDMENT. This Amendment shall constitute the ___________ amendment to the Agreement. The purpose of this amendment is to: ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________
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