This Precedent is a variation agreement between two parties, used to document changes to an existing contract between the same parties. Consideration is given in connection with the variation and therefore this agreement is executed as a simple contract rather than a deed. Optional drafting is provided for confirmation and consent to the variation, which may be required from a third-party guarantor. This Precedent is intended to be used in situations where: • there is an existing contract between two or more parties • the parties, by consent, wish to change certain provisions of the contract (whether to delete, amend or add further provisions) • there are no provisions within the existing contract which permit the change of some or all of its provisions without entering into a written form of variation, and • the parties are satisfied that there is consideration for the variation and so do not need it to be effected by way of deed See Precedents: Ireland—Deed of variation, where the parties wish to vary the contract by way of deed and Ireland—Letter of variation for a short form letter of variation. If the variation of