Joinder Agreement Template

When to Use Joinder Agreement

A sample joinder agreement comes in handy in numerous circumstances, particularly when:

• A business changes ownership, necessitating the new proprietors’ inclusion in existing binding contracts;
• New directors, shareholders, or partners join a company, requiring their addition to current agreements;
• New investors enter a project, compelling them to adhere to pre-existing investment terms;
• An entity exceeds its permitted number of beneficial owners, and joining new parties satisfies this requirement;
• Asset or obligation transfers to third parties demand their integration into an ongoing agreement;
• Additional parties must subscribe to the terms of an existing licensing agreement for shared copyrights or patents.

These scenarios demonstrate only a few cases in which a joinder agreement provides a practical and efficient remedy. In various settings, it allows for new parties to easily join existing agreements with clear processes in place.

Terms and Parties of Joinder Agreement

A joinder agreement form typically includes two parties:

• Original parties: These are the existing parties to the agreement. Their consent is required for a new party to join.
• Joining party: The individual or entity seeking to become part of the existing agreement. They must accept all originally outlined terms and conditions.

The terms provided below form the core of a joinder agreement. However, depending on the nature and complexities of the original agreement, additional terms may be incorporated:

• Acceptance of terms: This is the most significant point. The joining party must accept the conditions established in the original agreement.
• Consent of existing parties: The new party cannot be added without the expressed permission of those originally involved.
• Responsibilities and obligations: The agreement delineates the duties and obligations the joining party assumes.
• Changes to the original agreement: If applicable, the parties may modify some terms of the initial agreement.

How to Create a Joinder Agreement

Follow these instructions to appropriately fill out your future legal document if you want to ensure that a joinder agreement contains all relevant information:

• Identify the parties: Start by providing the names, addresses, and contact information of all parties.
• Specify the existing agreement: Provide specifics about the current contract. This ensures the joining party fully understands and acknowledges the agreement they are entering.
• Consent to existing terms: The joining party must agree to abide by all initially set terms and restrictions.
• Include additional terms: If the new member is under any extra terms and limitations, they should be clearly explained. This might include extra duties or conditions related to the new party’s role.
• Sign the document: The agreement should conclude with a section with all involved parties’ signatures that formally validate and finalize the arrangement.

For those navigating the ever-evolving nature of partnerships, the joinder agreement ensures that transitions are handled carefully and that the parties’ interests are protected. Take advantage of the free joinder agreement template offered by Jurizmo. Simply provide the necessary information about your situation and feel assured about handling commercial and legal contracts.