When Both Parties Agree to Definitize a Contract Change Before the Work is Begun: What it Means and Why it Matters
When working on a project under contract, it`s not uncommon for changes to arise that necessitate a revision to the original agreement. When this happens, the parties involved may need to come together to “definitize” the change before work can continue. But what exactly does this term mean? And why is it important for both parties to agree before work is begun?
Definitizing a Contract Change
In simple terms, definitizing a contract change means finalizing the details of the change and agreeing on any necessary adjustments to the original contract. This could involve revising deadlines, changing project scopes, or adjusting payment terms, among other possible changes.
When a change comes up during the course of a project, it can be tempting to simply move forward with the new plan as quickly as possible. However, it`s important for both parties to take the time to ensure that they have a clear and mutual understanding of what the revised agreement entails. Definitizing the change helps to ensure that both parties are on the same page and that there are no misunderstandings or disputes later on.
Why it Matters
There are several reasons why definitizing a contract change matters. One of the most important is that it helps to protect both parties from any potential legal issues down the line. By definitizing the change, both parties are agreeing to the revised terms and are less likely to dispute them later on.
Additionally, definitizing a contract change can help to ensure that the project stays on track and that everyone involved knows what to expect. By clarifying the revised terms of the agreement, both parties can work together more effectively to complete the project.
Finally, definitizing a contract change can help to build trust and strengthen the relationship between the parties involved. When both parties take the time to come together and agree on a revised plan, it shows a level of commitment and respect for each other`s needs and concerns.
Conclusion
In summary, definitizing a contract change involves finalizing the details of a revised agreement and ensuring that both parties understand and agree to the new terms. This process is important because it helps to protect both parties from legal issues, keeps the project on track, and builds trust and respect between the parties involved. If you`re working on a project under contract and a change arises, take the time to definitize the change before work is begun. Doing so can help to ensure a successful project and a positive working relationship.