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hello and welcome to PNC lounge calm this is lounge fever a series of videos where we try to answer your questions now your questions can come to us why our email YouTube comments Twitter Facebook pigeons everywhere right so we try to see if there is a question that can universally help everyone out if we find such a question we try to create a video on it this question can a contract change after it is signed is something we thought can be helpful to all of our community members so that is why we are creating a video on it now if you're looking for other a fake use other lounge fever videos questions that we have answered related to procurement management knowledge area you can check the first link in the description out it is an entire playlist of such videos if you're looking for lounge fever videos of other knowledge areas then you can go to the playlist section of our YouTube channel that's where you will find playlists of fa Q's of all other knowledge areas now if you're looking for concept related videos you're looking for processes concepts terms that show up in the procurement management knowledge here you can check out the second link in the description below which contains an entire playlist of procurement management knowledge area concepts terms processes inputs outputs everything right so two important links and the playlist section to check them out without further ado let's try to understand if a contract can indeed change after it is signed so the short answer is yes a contract can change even after it is signed now I'll tell you why this confusion arises this confusion comes from the world legally binding let's look into that in my long answer so legally binding this term this doesn't mean that the contract cannot be changed what legally binding means is that you are Lee we bound to follow the terms of the contract whatever that's mentioned in the contract whatever the terms are you have to follow them you are legally bound to follow them but legally binding this term doesn't mean that the terms on the contract cannot change the terms of the contract actually can change but for that both parties need to agree so if the buyer and the seller agree to change two or three terms in the contract then they have the right to do so and that means the contract can change even after it is signed where does this all fit in this fits in the contract change control system so just like our change management the entire process of change management there is a process of control contract change control system this process can be used to make changes in the contract a few more pointers so of course a contract can be changed after it is signed but it doesn't mean that you should sign any contract without second thought the...