What is CONTRACT MODIFICATION?

Scripted, one-sided (but included in the ambit of adjustment clause), or agreed together bilaterally, change. A deal alteration may bring in or call off specifications or conditions of a already existing deal, without altering its overall intention and intensity. One-sided adjustments are brought out generally through an adjustment order (alteration order), the two-sided ones using an additional agreement. Also known as deal amendment or adjustment of a deal.

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