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Revised Statement of Agreement

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REVISED STATEMENT OF AGREEMENT

This Revised Statement of Agreement (the "Agreement") is made as of by and between Company Name: , with principal place of business at , and Client Name: , with principal place of business at . Each of the foregoing entities is a "Party" and collectively the "Parties."

RECITALS

WHEREAS, the Parties previously entered into a written agreement dated (the "Original Agreement"), which set forth terms for the performance of certain obligations;

WHEREAS, the Parties desire to revise and restate certain terms of the Original Agreement to reflect updated deliverables, payment terms, and other provisions as set forth in this Revised Statement of Agreement;

WHEREAS, the Parties intend that, upon effectiveness of this Agreement, the terms herein shall supersede and replace the corresponding provisions of the Original Agreement to the extent inconsistent, but that unaffected provisions of the Original Agreement shall remain in full force and effect.

NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein and for other good and valuable consideration, the sufficiency of which is acknowledged, the Parties agree as follows:

1. DEFINITIONS

Unless otherwise defined in this Agreement, capitalized terms used in this Agreement shall have the meanings assigned to them in the Original Agreement. For clarity, the following definitions apply for purposes of this Revised Statement of Agreement:

"Revised Services" means the scope of services described in Section 2 below and in the specification attached as Exhibit A, if any.

2. REVISED TERMS

2.1 Scope. The Parties agree that the service obligations to be performed by the performing Party are revised as follows:

2.2 Deliverables and Schedule. Deliverables, milestone dates, and acceptance criteria shall be as follows:

3. PAYMENT

3.1 Fees. In consideration for the Revised Services, Client shall pay Company the fees set forth below. Total revised fee: USD.

3.2 Payment Terms. Payments shall be due within days of invoice. Late payments shall incur interest at the rate of , to the extent permitted by law.

4. TERM AND TERMINATION

4.1 Term. The term of this Agreement shall commence on the effective date set forth above and shall continue until unless earlier terminated in accordance with this Agreement.

4.2 Termination for Cause. Either Party may terminate this Agreement for material breach by the other Party if the breaching Party fails to cure such breach within days after written notice specifying the breach.

5. CONFIDENTIALITY

Each Party shall maintain in confidence all Confidential Information disclosed by the other Party and shall not disclose such information except as necessary to perform under this Agreement or as required by law. The obligations of confidentiality shall survive termination for a period of years.

6. REPRESENTATIONS AND WARRANTIES

Each Party represents and warrants that: (a) it has full power and authority to enter into and perform this Agreement; (b) this Agreement constitutes a valid and binding obligation enforceable against it in accordance with its terms; and (c) performance of its obligations will not violate any agreement or legal obligation binding on it.

7. INDEMNIFICATION

Each Party (the "Indemnifying Party") shall indemnify, defend, and hold harmless the other Party (the "Indemnified Party") from and against any third-party claims, liabilities, damages, losses, and expenses (including reasonable attorneys' fees) arising out of the Indemnifying Party's breach of this Agreement or its gross negligence or willful misconduct.

8. LIMITATION OF LIABILITY

Except for liability arising from willful misconduct, gross negligence, or breach of confidentiality or indemnification obligations, neither Party shall be liable to the other for indirect, incidental, consequential, special, or punitive damages, and aggregate direct damages shall not exceed the amount of fees paid or payable under this Agreement during the twelve (12) months preceding the event giving rise to the claim.

9. NOTICES

All notices required or permitted under this Agreement shall be in writing and shall be deemed delivered when delivered personally, sent by certified mail, return receipt requested, or sent by nationally recognized overnight courier, to the addresses set forth below or such other address as a Party may specify in writing:

10. AMENDMENTS; WAIVER; COUNTERPARTS

This Agreement may be amended only by a written instrument executed by authorized representatives of both Parties. No waiver of any provision shall be effective unless in writing and signed by the waiving Party. This Agreement may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument.

11. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the state or jurisdiction agreed by the Parties below, without regard to its conflict of laws principles.

12. ENTIRE AGREEMENT

This Agreement, together with any exhibits or attachments expressly incorporated herein, constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, and communications, whether written or oral, relating to such subject matter.

13. SEVERABILITY

If any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction, such provision shall be modified to the extent necessary to make it enforceable, or if modification is not possible, severed, and the remaining provisions shall remain in full force and effect.

14. MISCELLANEOUS

The Parties agree to cooperate and execute such further documents and take such further actions as may be reasonably necessary to effectuate the purposes of this Agreement. Each Party acknowledges that it has had the opportunity to seek independent legal advice regarding this Agreement.

Company — Printed Name:

By:

Date:

Client — Printed Name:

By:

Date:

Enter text✕

What the Revised Statement of Agreement Is

A Revised Statement of Agreement is a written amendment that documents changes to an existing contract or agreement between parties. It records revised terms, corrected factual elements, amended schedules, or restated obligations while referencing the original agreement. The document identifies parties, the effective date of the revision, the specific sections changed, any new consideration, and signature blocks for authorized signers. When executed correctly it becomes part of the contract record and can be enforced like the original agreement under applicable electronic signature laws.

Why a Formal Revision Matters

A clear Revised Statement of Agreement reduces ambiguity, documents mutual intent, and creates an auditable record of changes that courts and counterparties can rely on.

Why a Formal Revision Matters

Who Typically Prepares and Signs a Revision

Ensure signatory authority is documented and that the amendment references the original agreement by date and title to avoid ambiguity.

  • Contract managers and operations staff who implement commercial or service changes and track version history.
  • Legal counsel or in-house attorneys who confirm the amendment aligns with governing law and original contract terms.
  • Authorized executives (CFO, CEO) or delegated signatories who have express authority to bind the organization.

Essential Components of a Professional Revised Statement of Agreement

A concise, well-structured amendment makes the change clear to all parties and preserves enforceability. Include precise references to the original agreement and unambiguous amendment language.

Header

Reference the original agreement title and execution date so the amendment links unambiguously to the initial contract.

Recitals

Briefly state the purpose of the amendment and why parties are revising the original terms to provide context for later interpretation.

Amendment Text

Specify each changed clause with old-versus-new language or replace entire sections using clear numbering and cross-references.

Effective Date

State the exact effective date for the amendment; this date controls obligations, performance windows, and statute of limitations timing.

Signatures

Provide signature blocks for each party including printed name, title, date, and capacity (individual or corporate officer).

Integration

Confirm how the amendment integrates with the original agreement and whether other provisions remain unchanged or are superseded.

Step-by-Step: Completing a Revised Statement of Agreement

Follow these sequential steps to prepare, approve, and execute a legally effective amendment.

  • 01
    Draft: Identify sections to change and draft exact replacement language.
  • 02
    Review: Have legal counsel confirm conformity with governing law and original terms.
  • 03
    Confirm Authority: Verify each signer has authority to bind their organization.
  • 04
    Execute: Obtain dated signatures and archive copies with audit evidence.

Where to Send or File the Amended Agreement

After execution, distribute copies to all parties, maintain a retained original, and, when applicable, record or file with external registries.

  • All Parties: Provide each contracting party a fully executed copy for their records and operations.
  • Internal Records: File the executed amendment with the original agreement in contract repositories or ERM systems.
  • Regulatory Filings: If amendment alters recorded instruments (deeds, financing statements), record with county recorder or file updated UCC.
  • Tax/Accounting: Share with finance for accounting, tax reporting, or revised payment schedules as necessary.

Configuring an Online Amendment Workflow

Set up the digital workflow to collect signatures, authenticate signers, and capture an audit trail for each executed amendment.

Field Configuration
Document Type Revised Statement of Agreement
Authentication Email link, SMS code, or stronger KBA when required
Routing Sequential signing or parallel signing per contract clause
Retention Store signed PDF and audit trail in secure repository

Digital Signing and Technical Considerations

Confirm the platform supports record retention and chain-of-custody evidence appropriate to your industry and regulatory needs.

  • Integrations: Salesforce, NetSuite, Google Workspace supported
  • Formats: PDF, DOCX, and PDF/A export available
  • Authentication: Email, SMS, KBA, or SSO methods supported

Comparing eSignature Platform Pricing and Capabilities

A basic comparison of starting prices and common capabilities across popular eSignature providers. signNow is listed first per vendor order guidelines.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Trial available Trial available Trial available Trial available
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Key Penalties and Legal Risks to Watch For

1099 Filing Penalties: $60–$330 per form (IRC §6721)
Intentional Disregard: $660+ per form, no cap (IRC §6721)
I-9 Paperwork Violations: $281–$2,789 per violation (8 CFR §274a.2)
Notarization Defect: Unnotarized record may be rejected for recording
Authority Dispute: Signatures without authority risk contract avoidance
Record Retention Failures: Regulatory penalties or audit exposure possible

Common Errors When Preparing a Revised Statement of Agreement

  • Failing to reference the original agreement precisely can create ambiguity about which document is amended and invite disputes.
  • Using vague amendment language (for example, 'modify as needed') without exact replacement text often leads to differing interpretations.
  • Not confirming the signatory's authority or corporate resolution risks later challenges to enforceability and may require ratification.
  • Skipping a required consumer electronic disclosure where ESIGN requires consent for consumer-facing changes can render the electronic record noncompliant.

Practical Tips for Accurate and Efficient Amendments

Use a consistent process and version control to minimize mistakes when creating and circulating amendments.

Version Control
Assign a revision number and date, attach redlines comparing versions, and keep the executed amendment with the original contract to preserve history.
Audit Trail
Capture signer authentication, timestamp, IP address, and certificate of completion when using electronic signatures to support attribution and intent.
Authority Check
Verify corporate authorization or board resolutions for executive signatories and document their capacity in the signature block.
Attach Exhibits
Include any schedules, price lists, or project plans referenced by the amendment as numbered exhibits to avoid future disputes.

Real-World Examples of Revised Statements of Agreement

These short examples show how different organizations use amendments to document changes and preserve compliance.

Optica Ventures LLC

Optica updated contract pricing to reflect new scope after onboarding a vendor

  • The amendment replaced Section 4 pricing table
  • Brian Fitzgibbons, COO: the interface is simple and easy-to-use for our team and customers, reducing confusion and preserving the original contract record for audits.

Martin Properties

A property manager amended lease payment terms for a portfolio tenant

  • The amendment adjusted rent schedule and late fee provisions
  • Tim Martin, Founder: processing and executing revised agreements online maintained compliance and allowed rapid distribution to stakeholders without in-person meetings.

Typical Timelines and Processing Expectations

Set clear internal deadlines for drafting, legal review, signature collection, and distribution to avoid operational delays.

Draft Completion:

Prepare amendment draft within 3–7 business days of identifying change

Legal Review:

Allow 3–5 business days for counsel review depending on complexity

Signature Window:

Request signatures within 7–14 days to keep amendments timely

Record Filing:

Record any required instruments with authorities within state filing deadlines

Distribution:

Send executed copies to all parties immediately after final signature

Who Can Sign: Typical Authorized Signatories

Authorized Signer

An authorized signer is typically an officer or delegated representative empowered by corporate bylaws or resolution. Before execution, confirm written delegation of authority and that the signer’s title and capacity are clearly indicated in the signature block.

Company Counsel

In some organizations legal counsel will countersign or certify amendments. Counsel involvement confirms compliance with governing law and reduces risk of conflicting obligations or unenforceable terms.

Required Data Elements to Include

Full Legal Names: Use exact legal names
Entity Type: Corporation, LLC, individual, etc.
Effective Date: MM/DD/YYYY format
Signature Date: Date signer executed document
Signer Title: Officer title or capacity
Reference ID: Original contract date or file number

How to Save and Export a Signed Amendment

After signing, store an immutable copy and export formats suited for legal retention and audit.

PDF/A Archive

Export a PDF/A copy for long-term archival to preserve content and metadata in an ISO-compliant format for legal hold.

Signed PDF with Audit Trail

Save a signed PDF that embeds the audit trail or attach the certificate of completion to show signer identity and timestamps.

DOCX Editable Copy

Keep an editable DOCX copy for internal versioning, while treating the signed PDF as the legal original.

Secure Repository

Store executed amendments in a controlled repository with access controls and regular backups for compliance.

Frequently Asked Questions About Revised Statements of Agreement

Answers to common questions about drafting, signing, and preserving an amended agreement.


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