This month’s Commercial Property update explains what a side letter is and the circumstances in which a side letter may be used.<\/p>\n
What is a side letter?<\/strong><\/p>\n When will a side letter be binding?<\/strong><\/p>\n In what circumstances are side letters used?<\/strong><\/p>\n Clarification<\/strong><\/p>\n Side letters are often used to confirm additional details that are not known when the principal documents are finalised or to clarify certain points.<\/p>\n Variation<\/strong><\/p>\n When dealing with any last-minute changes, it is often easier to set out the relevant details in a side letter than to make changes to the contract and have them initialled. Side letters are also an efficient means of documenting any changes that have been agreed in relation to a party\u2019s standard terms and conditions.<\/p>\n Supplementation<\/strong><\/p>\n Side letters may also evidence a binding contract between two of the parties to a multi-party transaction, whether or not disclosed to all other parties.<\/p>\n More information<\/strong><\/p>\n If you have any queries about the content of this checklist, please contact Max Marrison.<\/p>\n","protected":false},"excerpt":{"rendered":" This month’s Commercial Property update explains what a side letter is and the circumstances in which a side letter may be used. What is a side letter? A side letter is a document that is ancillary to another contract. The key question whenever the content or effect of a side […]<\/p>\n","protected":false},"author":1,"featured_media":901,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1487,1491],"tags":[561,1787],"class_list":["post-248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-business","category-commercial-property-2","tag-commercial-property","tag-legal-updates"],"yoast_head":"\n\n
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