Deed of Variation

This Deed of Variation template is designed to facilitate the formal amendment of an existing contract between parties. It ensures that any changes made to the original contract are legally binding and enforceable.  The template includes provisions for defining key terms, detailing specific amendments, and specifying the effective date of the changes. It also addresses the consent and confirmation of any guarantors involved, maintains the integrity of the original contract, and provides legal clarity regarding governing law and jurisdiction. Additionally, it includes a signature block for proper execution.  This comprehensive template ensures that all legal requirements are met and the interests of all parties, including third parties, are protected. 

A deed of variation is a legal document used to formally amend the terms of an existing contract between parties.  Here’s what it does:

1. Amends Contract Terms: It allows the parties to change specific provisions of the original contract, such as deleting, modifying, or adding new clauses.
2. Ensures Legal Validity: By executing the changes as a deed, it ensures that the amendments are legally binding and enforceable, even if there is no consideration (something of value exchanged) between the parties.
3. Confirms Guarantor Consent: If the original contract includes a guarantor, the deed of variation can include the guarantor’s acknowledgment and consent to the changes, ensuring that the guarantor’s obligations remain intact.
4. Maintains Contract Integrity: It reaffirms that, except for the specified amendments, the original contract remains in full force and effect.
5. Specifies Effective Date: It clearly states when the amendments will take effect, which can be immediately upon execution or from a specified future date.
6. Addresses Third-Party Rights: If third parties have rights under the original contract, the deed of variation can include their consent to the changes, ensuring those rights are not inadvertently affected.
7. Provides Legal Clarity: It includes provisions for governing law and jurisdiction, specifying which legal system and courts will handle any disputes arising from the deed.
8. Formalises Execution: It includes a signature block for all parties to sign, ensuring that the deed is properly executed and legally binding. 

Publisher’s Notice:

Note: This publication does not necessarily deal with every important topic, nor cover every aspect of the topics with which it deals. Templates do not include or provide legal or other advice to users. They are designed to provide a head-start to the development of a commercial agreement and are not the finished article. They require careful reading, analysis and customisation in order to meet the particular needs of the parties to the document. 

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