The term "prolongation" is widely used in various aspects of the life of any modern person. In the general sense of the word, this concept is defined as lengthening the time of the action of something or increasing the duration of the particular process under consideration. For example, the extension of the contract is an extension of cooperation for a certain period of time. At the same time, in medicine, a similar term can describe an increase in the duration or process of treatment, as well as an extension of the time for taking any medication.
Classification
The extension of the contract is an activity whose main purpose is to extend the validity of this documentation. Moreover, it is customary to distinguish between several forms of such processes: automatic and non-automatic. In the event that the first category is valid, the extension of the validity of the documents in question is carried out in accordance with the law. There is no need to establish the consent of the parties. In turn, the non-automatic extension of the contract is a set of measures, the main purpose of which is to extend the validity of the documentation in question for a certain period with the consent of both parties signing these papers. It should be remembered that it is necessary to perform all the required operations before the expiration of the relevant documents.
Contract renewal terms
The above activities can be carried out subject to certain mandatory conditions:
1. Drafting and conclusion of an appropriate special supplementary agreement, otherwise referred to as a protocol. Such a document indicates a large number of important things, one of which is the term of the extension of the contract.
2. When drafting the main contract, it is necessary to provide for the extension of its validity by including the previously described conditions in the text. It should be borne in mind that in such a case, the extension will be considered automatic for the duration specified in the main contract.
Conclusion
Based on the foregoing, we can conclude that the extension of the contract is a certain increase in the period of validity of the original agreement with a view to further effective and successful cooperation. However, it should be remembered that if you want to terminate the contract in question, you must either wait for the termination of its validity (if the extension is not automatic), or reach an agreement between the parties to terminate the contract (if the extension should be made automatically). In both cases, there are certain norms, standards and rules for drawing up so-called supplementary agreements, which are well known to every competent lawyer or highly qualified employee of the accounting department of the organization concerned.