Reopening clause

Reopening clause – in the area of Contract Law, parties may agree that under certain terms and conditions, they may re-negotiate the clauses of the signed agreement, prior to its expiration. It is not possible to re-negotiate if other events occur except the agreed ones. For example, when parties are proud of working with each other, then they may agree that if certain financial results have been reached, a prolonging of the term of the agreement may be renegotiated.

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