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Wednesday, 19 February 2020

How to alter the terms of a contract?

A contract is an agreement between two or more parties that is legally binding. At any point, anyone who is bound by a contract of any type, may desire to change it. The change in the agreement can be a personal decision, just as it can be mutual too. While an existing contract has to be honored, sometimes situations change and certain adjustments are required. When a contract needs to be changed, the due process must be followed to avoid unnecessary friction between both parties.


Whenever there is to be a change in any contract, you must be careful to observe every necessary protocol. You must follow the required steps so you are on the right side of the law. It is important to keep in mind some important steps when trying to change an existing contract, especially the documents which must be sent to the other party and the required papers to be signed.


Since single parties cannot change a contract by themselves, you must notify your partner who is also involved in the contract. This has to be done in writing. You have the option to send them a registered mail, but it may not be delivered as quickly as possible. And, if you are in a hurry and they pretend they couldn’t receive a registered mail, Lyme has you covered.


Lyme - Log Your Message is a tool for sending legally-binding emails. These emails are logged, which in itself is a proof that the message was sent. The other party has the option to “accept or reject” the message, but in either case, both of you know that the message has been delivered successfully.


Lyme provides you a log file with a detailed record of all actions taken. A time stamp is attached to the log file to certify that the information contained in the latter is reliable.


But what is this for? If the other party does not give you an answer and you have to take the case to court you will have legal valid evidence that you have attempted to notify the other party about the contractual changes. You have complied with all procedures and you have done everything according to the law. Therefore, your side will be safeguarded.


With our platform, your life is simplified! Avoid wasting time sending letters with contractual changes that may not reach the recipient. Do it through Lyme!