contract modification

Contract modification refers to the process of changing the terms of an existing agreement between parties. This can involve altering details such as price, delivery dates, or specific responsibilities. Both parties must agree to the changes, often in writing, to ensure clarity and legal enforceability. Modifications may arise from changing circumstances or new information that make adjustments necessary. It's important to document these changes properly to avoid misunderstandings or disputes in the future. Essentially, it's a way of keeping an agreement relevant and functional as conditions evolve.