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Amendment To Agreement

Amendment To Agreement Template for Malaysia

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Key Requirements PROMPT example:

Amendment To Agreement

"I need an Amendment to Agreement to modify our existing software licensing agreement with TechCorp Sdn Bhd, specifically to extend the license term by three years until March 15, 2025, and update the annual maintenance fees to reflect current market rates."

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Document background
An Amendment To Agreement is essential when parties need to modify their existing contractual arrangements while preserving the fundamental relationship established in the original agreement. This document type is commonly used in Malaysian business practice when circumstances change, new terms need to be added, or existing terms require modification. It must comply with Malaysian contract law, particularly the Contracts Act 1950, and requires proper execution by all original parties or their authorized representatives. The amendment can address various aspects such as timeline extensions, price adjustments, scope changes, or updates to terms and conditions, making it a versatile tool for contract management across different industries. It's crucial to ensure the amendment is properly stamped according to the Malaysian Stamp Act 1949 to maintain its admissibility in legal proceedings.
Suggested Sections

1. Parties: Identification of all parties to the amendment, which should match the parties in the original agreement unless there are permitted assignments or transfers

2. Background: Reference to the original agreement including its date and parties, and brief context for why the amendment is being made

3. Definitions: Key terms used in the amendment, including reference to definitions in the original agreement and any new definitions specific to the amendment

4. Amendment Details: Specific clauses or provisions being amended, clearly stating both the original text and the new text

5. Effective Date: When the amendments will take effect

6. Confirmation of Other Terms: Statement confirming that all other terms of the original agreement remain unchanged and in full force and effect

7. Governing Law: Confirmation that the amendment is governed by the same law as the original agreement (Malaysian law)

8. Execution: Signature blocks for all parties

Optional Sections

1. Interpretation: Additional rules for interpreting the amendment alongside the original agreement, used when there are complex changes that might affect multiple sections

2. Regulatory Compliance: Include when amendments are being made to comply with specific regulatory requirements or changes

3. Third Party Consents: Required when the amendment needs approval from parties not directly involved in the agreement

4. Conditions Precedent: Include when the amendments are subject to certain conditions being met before taking effect

5. Costs and Expenses: Include when there are specific costs associated with implementing the amendments that need to be allocated between the parties

Suggested Schedules

1. Schedule of Amendments: Detailed list of all specific changes being made to the original agreement, particularly useful for multiple or complex amendments

2. Amended and Restated Clauses: Complete text of amended clauses in their final form

3. Required Consents and Approvals: List of any third-party or regulatory approvals required for the amendments

4. Comparison Schedule: Side-by-side comparison of original and amended provisions, useful for complex changes

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Manufacturing

Technology

Financial Services

Real Estate

Construction

Healthcare

Education

Retail

Energy

Telecommunications

Professional Services

Agriculture

Transportation

Hospitality

Relevant Teams

Legal

Procurement

Finance

Operations

Commercial

Compliance

Risk Management

Business Development

Corporate Secretarial

Project Management

Contract Administration

Relevant Roles

Legal Counsel

Contract Manager

Business Development Manager

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Procurement Manager

Project Manager

Commercial Director

Compliance Officer

Risk Manager

Company Secretary

General Manager

Operations Manager

Account Manager

Industries
Contracts Act 1950: The primary legislation governing contract formation, validity, and enforcement in Malaysia. Covers essential elements of a contract including offer, acceptance, consideration, and capacity to contract.
Stamp Act 1949: Requires certain documents, including contract amendments, to be properly stamped to be admissible in court. Determines the duty payable on various types of documents and instruments.
Electronic Commerce Act 2006: Governs electronic transactions and signatures in Malaysia. Relevant if the amendment will be executed electronically or stored in digital format.
Specific Relief Act 1950: Provides remedies for breach of contract and enforcement of contractual rights, which may be relevant to the amendment's enforcement provisions.
Evidence Act 1950: Governs the admissibility of documents in court proceedings and requirements for proving the contents of documents, including amendments to agreements.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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