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An Addendum To Memorandum Of Understanding is a formal document used when parties need to modify their existing MOU without creating an entirely new agreement. This document type is particularly relevant in the New Zealand legal context, where it must comply with the Contract and Commercial Law Act 2017 and other relevant legislation. It's commonly used when circumstances change, such as when parties want to extend the term of their cooperation, modify specific terms, add new parties, or update obligations. The addendum maintains clear reference to the original MOU while precisely documenting all modifications, ensuring legal certainty and continuity of the relationship. It's especially useful for long-term collaborative arrangements where flexibility is needed to accommodate evolving circumstances while maintaining the core framework of the original understanding.
