Contract Modification refers to the process of changing the terms of an existing contract. This can include alterations to the scope of work, payment terms, deadlines, or other specific provisions. Both parties involved must agree to the changes, and it is often documented in writing to ensure clarity and legal enforceability. To modify a contract, the parties typically draft a contract amendment or addendum that outlines the new terms. It is important to follow any procedures specified in the original contract regarding modifications to avoid disputes. Properly executed modifications help maintain a positive relationship between the parties involved.