Once a contract or agreement is signed, there are changes that can arise *cough* COVID-19 related postponements *cough*, that require a new contract to be created. But, before you draft a whole new event service agreement, there is an easier way to modify your current contract – an amendment agreement.
An amendment agreement is used to amend or modify a variety of commercial contracts.
Currently, the most likely use of an amendment agreement by a DMC is the modification of an earlier executed event service agreement for a program that is postponed to a later date.
Many DMC’s and their clients operate informally and often make agreements without executing any written or formal records.
As a best practice, it is highly advised to memorialize, in writing, any modifications or other amendments to the event service agreement.
As requested by a large number of our members, DMCC has produced a new stand-alone amendment agreement with full notes and directions to be used by DMCs. This document is now available in the DMCC library.
DOCUMENT BREAKDOWN: DMCC Amendment Agreement
WHO
DMCs will use this document primarily with their clients to amend or modify existing event service agreements previously entered into between the DMC and the client.
WHAT
This document is intended to correctly and concisely modify an existing event service agreement.
WHERE
Applies to US entities with the transaction taking place in the US. If any party is organized or operates in, or any part of the transaction takes place in a foreign jurisdiction, these terms may need to be modified to comply with applicable laws in the relevant foreign jurisdiction.
WHY
When the pandemic hit and clients were notifying DMCs of their requests for cancellation, many DMCs offered clients the option to postpone their event as an alternative. This was advantageous to both the DMC and the client for a variety of reasons, but, in many cases, the postponement was not properly documented. This amendment agreement offers the correct way to postpone an event, memorialize that modification, and provide insight on what to consider in doing so.
WHEN
It can be used to properly memorialize already existing postponements or modifications or for any future changes to the event service agreement.
HOW
The DMC will edit the amendment agreement to their specifications and introduce it to their client for their review – along with a copy of the original service agreement for convenience. If the client agrees to the terms, the client and the DMC will sign the document and each party will receive a copy for their records.