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EXERCISE OF RENEWAL OPTION
GOVERNMENT OF
THE UNITED STATES VIRGIN ISLANDS
DEPARTMENT OF PROPERTY & PROCUREMENT
CONTRACT NO.: P085DOHT20
DATED: August 21, 2023,
EXERCISE OF RENEWAL OPTION No.1
Contractor
SciptGuideRX,
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How to fill out exercise of renewal option
How to fill out exercise of renewal option
01
Contact the appropriate party who issued the original agreement to inquire about the renewal option.
02
Review the terms and conditions of the original agreement to understand the criteria for exercising the renewal option.
03
Determine the deadline for submitting the exercise of renewal option and ensure it is done in a timely manner.
04
Fill out the exercise of renewal option form completely and accurately, providing any required information or documentation.
05
Submit the completed form to the designated party according to the instructions provided.
Who needs exercise of renewal option?
01
Individuals or businesses who have an existing agreement that includes a renewal option.
02
Parties who wish to extend the terms of their current agreement for a specified period.
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What is exercise of renewal option?
The exercise of renewal option is a clause in a contract that allows the party to extend or renew the terms and conditions of the contract for a specified period of time.
Who is required to file exercise of renewal option?
The party who wants to extend or renew the contract is required to file the exercise of renewal option.
How to fill out exercise of renewal option?
The exercise of renewal option can typically be filled out by completing a form provided by the other party in the contract.
What is the purpose of exercise of renewal option?
The purpose of the exercise of renewal option is to provide a way for the parties to continue the contract for an additional period of time.
What information must be reported on exercise of renewal option?
The exercise of renewal option may require information such as the desired length of the extension, any updated terms and conditions, and signatures of both parties.
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