Sales Contract Addendum Post-Negotiation
Sales Contract Addendum
Post-Negotiation
This Sales Contract Addendum ("Addendum") is made as a supplement to the Sales Contract ("Original Contract") previously entered into by us, the Service Provider, and our esteemed client. Following recent negotiations, both parties have agreed to the following modifications and additions to the Original Contract to accurately reflect the agreed-upon terms.
I. Adjusted Terms
A. Price Adjustment: The total price for the software licensing described in the Original Contract is hereby adjusted from $10,000 to $9,500, reflecting an agreed-upon change due to the early payment commitment by the Client.
B. Delivery Schedule: The delivery date for the custom software solution is amended from May 15, 2023, to May 1, 2023, accommodating the Client's request for an expedited implementation timeline.
II. New Provisions
A. Extended Warranty: An extended warranty period for the custom software solution is now included, extending the original warranty by an additional 12 months.
B. Post-Sale Support: We commit to providing 18 months of additional support beyond the 12 months outlined in the Original Contract, ensuring the Client receives comprehensive assistance during the software integration phase.
III. Payment Plan Modification
The payment plan outlined in the Original Contract is modified as follows: The Client will now make an initial down payment of 20% of the new total price ($1,900) upon signing this Addendum. The remaining balance will be divided equally over 12 months, with the first monthly payment due 30 days after the delivery date.
IV. Confidentiality Clause Amendment
The confidentiality clause is hereby amended to include provisions for the protection of any new intellectual property developed during the extended support period, ensuring both parties' data and information are protected according to the latest agreement.
V. Termination Clause Update
The termination clause is updated to reflect conditions that either party may terminate the agreement with 60 days' written notice if repeated breaches of the newly agreed terms occur, not remedied within a 30-day grace period.
Acknowledgment
By signing below, both parties acknowledge and agree to the modifications and additions outlined in this Addendum. This Addendum is executed in good faith and becomes effective as of the last date signed below.
Service Provider
[Your Name]
[Title]
[Date]
Client
[Name]
[Title]
[Date]
