{"id":181369,"date":"2023-05-29T06:59:20","date_gmt":"2023-05-29T05:59:20","guid":{"rendered":"https:\/\/legalvision.co.uk\/?p=181369"},"modified":"2025-01-09T11:05:16","modified_gmt":"2025-01-09T11:05:16","slug":"vary-contract-oral","status":"publish","type":"post","link":"https:\/\/legalvision.co.uk\/commercial-contracts\/vary-contract-oral\/","title":{"rendered":"Is it Safe for My Business in England to Vary a Written Commercial Contract Orally?"},"content":{"rendered":"\n

Every business owner will likely sign dozens of commercial contracts during their lifetime. Most commercial contracts exist under the original written agreement until the contract ends. However, sometimes a contract will require a variation to enable it to continue. This article will explore whether it is safe for your company to vary a written contract orally and any risks involved with doing so.<\/p>\n\n\n\n

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Supplier Contracts Checklist<\/div>\n
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Download this free Supplier Contracts Checklist to ensure your contracts will meet your business\u2019 needs.<\/p>\n <\/div>\n \n\nDownload Now<\/a> <\/section>\n <\/div>\n\n\n\n\n

What is a Commercial Contract?<\/h2>\n\n\n\n

This is a legal document between two businesses summarising the binding terms of a commercial deal. Whilst all contracts differ, most commercial agreements confirm details regarding payment, exchange of goods and services and termination provisions.<\/p>\n\n\n\n

Because of the high financial value of some commercial contracts, any breach of contract can have significant economic consequences for the defaulting party. Thus, an out-of-date contract can be risky to the parties involved, hence the occasional need to update and vary an existing written agreement. For example, you may need to vary a contract to:<\/p>\n\n\n\n