Commitment to renegotiate the composition of the amended contract

The main reason for the formation of the amended contract is the change in the circumstances surrounding the basic contract, so that the implementation of the contract for one of its parties is cumbersome, especially in long-term contracts whose parties desire a measure of stability in their transactions, as in concession contracts, supply contracts, contracting contracts and insurance contracts, which are subject to change The surrounding circumstances, which will affect the elements of the contract and the obligations of the contractors will be affected accordingly. The change of circumstances surrounding the contract that are diverse as a result of the type of contract concluded between the parties, whether it is economic related to raw materials, manufactured materials, implementation, or as a result of a change in the level as in sports professional contracts, all causes lead to a nodal imbalance between the parties whose primary goal is Mutual benefit through the contract, whose main function is to stabilize the legal positions between the parties during the term of the contract. Accordingly, the change of circumstances at the stage of contract implementation will affect the implementation and become stressful for one of its parties, and as a result of the contracting parties’ desire to continue the contractual bond between them, and in order to achieve the rules of justice, the basic contract must be reviewed and amended under an amended contract that achieves a balance between its parties. Either some of the long-term contracts whose parties predict a change in circumstances during the implementation of the contract, including the existence of a renegotiation clause that aims to modify the contract in the event of a change in circumstances during the implementation phase of the contract, it did not exist when the basic contract was formed, and thus it is a condition of the contract parties industry to meet the changes During the execution of the contract, the parties to the contract determine the type of circumstances and events that when they occur are renegotiated, which are independent of their will and expectations when the primary contract is concluded act