Q&As

What is the best approach for updating an existing B2B contract?

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Published by a LexisNexis Commercial expert
Published on: 03 January 2017
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If two business to business (b2b) contracting parties wish to replace an existing contractual relationship with a new one, there are two options open to them:

Variation of the existing contract

This Q&A does not consider the procedure for varying a contract and the suitable instruments for documenting a variation.

Note that, at law, a ‘new contract’ will not have been created by a variation. For a ‘new contract’ to be created, the original contract must have been terminated in its entirety (for example by a deed of termination) and a fresh new contract separately entered into between the parties.

See subtopic: Varying a contract—overview for further advice.

Termination of the existing contract and entry into a new one

We

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Jurisdiction(s):
United Kingdom
Key definition:
B2B definition
What does B2B mean?

Business to business—contracts between two businesses.

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