Common use of Effectiveness and Amendment Clause in Contracts

Effectiveness and Amendment. 1. The Contract shall be executed in two counterparts with each party holding one and shall come into effect with signature and seal of the authorized representatives of both parties. 2. In case of any matter not specified in the Contract, both parties shall negotiate and enter into a supplementary agreement, which shall have the same legal effect as the Contract. 3. Any amendment to the terms of the Contract shall be agreed in writing and sealed by the authorized representatives of both parties and shall be in the written form exclusively limited to supplementary agreement, minutes of meeting, fax, letter or e-mail and other legally recognized forms.