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Should a contract include an exhibit or schedule?
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What types of exhibits are used in a definitive agreement?
Oct 18, 2024 · Knowing when and how to use an addendum versus an exhibit can help ensure clarity and enforceability in contractual relationships. This article explores the differences between addendums and exhibits, their respective functions in contract law, and how to determine which document to use in a given situation.
Jun 21, 2006 · Any exhibit or schedule attached to a contract would necessarily be referred to in the body of the contract. That reference by itself is all that’s required to make the exhibit or schedule part of the agreement.
- Schedules
- Exhibits
- Addendums
Unlike exhibits and addendums (discussed below), schedules are considered to be a substantive part of the definitive agreement itself. Schedules, sometimes referred to as appendices, are used to attach information at the end of the contract that would be too confusing or cumbersome to include in the main body of the agreement. Schedules often take ...
Exhibits are not considered to be part of the definitive agreement. Exhibits are typically viewed as samples (also known as specimens) of documents that the parties intend to either execute or deliver at some point in the future. Exhibits can be instruments, notices, stand-alone agreements, or any other documents that the parties anticipate will be...
Addendums, also known as supplements, are not considered to be part of the definitive agreement. However, a definitive agreement can reference addendums as placeholders for future information. For example, master services agreements (MSAs) frequently use addendums in the form of work orders (sometimes called statements of work) for new projects. In...
Apr 29, 2024 · What does a contract exhibit mean? Much like an addendum, a contract exhibit takes the form of extra documentation included alongside the contract. Exhibits provide additional context for agreements. Sometimes, a contract will reference a separate document.
- Amendments. An amendment means making a change to a contract that already exists. Amendments do not replace the entire contract, just the sections that have been modified.
- Schedules. Schedules are sometimes referred to as appendices, but they are different. In contracts, schedules are included at the end of the document to incorporate information and terms that are part of the contract.
- Appendices. An appendix is a document attached to the end of a contract that contains detailed information, like a schedule. But, the difference is that appendices contain supplementary information that is not included in the contract.
- Exhibits. An exhibit is another type of document that can be attached to the end of a contract. Like an appendix, an exhibit is not part of the contract.
Many contracts contain one or more schedules, annexes or exhibits. The naming style – exhibit, schedule, attachment, appendix or annex – is not of significance, except that a chosen term should be used consistently throughout the entire agreement.
Sep 16, 2022 · Often contracts come with references to attachments. This may be labelled as schedules, appendices or addenda, but what are they for and how do they affect the main contract? Here we look at their different use cases and discuss how to monitor and evolve your contracts to maintain successful commercial relationships.
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