The prolongation of the contract is an extension of cooperation

The term "prolongation" is widely used in various aspects of life of any modern person. In the general sense of the word, this concept is defined as the lengthening of the time of action of something or the increase in the duration of the particular process under consideration. For example, prolongation of the contract is an extension of cooperation for a certain period of time. At the same time in medicine, a similar term can characterize the increase in the duration or process of treatment, as well as the prolongation of the time of taking any medications.

Classification

Prolongation of the agreement is an activity whose main purpose is to extend the validity of this documentation. At the same time, legislation recognizes several forms of such processes: automatic and non-automatic. In the event that the first category is in effect, the extension of the documents in question is carried out in accordance with the law. In this case, there is no need to establish the consent of the parties. In turn, the non-automatic prolongation of the contract is a set of measures whose main purpose is to extend the validity of the documents in question for a certain period with the consent of both parties signing these documents. It should be remembered that all required operations must be performed before the expiry of the relevant documents.

Terms of contract prolongation

The above-described activities can be carried out under certain mandatory conditions:

1. Preparation and conclusion of the relevant special supplementary agreement, otherwise known as the protocol. A similar document indicates a large number of important things, one of which is the term of the contract extension.

2. In drafting the main contract, it is necessary to provide an extension of its operation by including the condition described above in the text. In this case, it is necessary to take into account that in such a case the prolongation will be considered automatic for the duration of the contract specified in the main contract.

Conclusion

Based on all the above, it can be concluded that the prolongation of the contract is some definite increase in the period of validity of the initial agreement with a view to further effective and successful cooperation. However, it should be remembered that if you wish to terminate the contract in question, you must either wait for its expiration (in the event that the extension is made automatically) or reach agreement of the parties on the termination of the contract (if the extension is to be made automatically). In both cases, there are certain norms, standards and rules for the formulation of so-called supplementary agreements, which are well known to every competent lawyer or highly qualified employee of the accounting department of the organization concerned.