What is a joinder agreement?

A joinder agreement is a legal document that binds one or more parties to an existing legal agreement or contract. It is commonly used in business transactions, partnerships, joint ventures, and other situations where multiple parties are involved in a single agreement.

The joinder agreement typically outlines the terms and conditions under which a new party will be added to the existing agreement. This may include the rights, responsibilities, and obligations of the new party, as well as any changes to the agreement resulting from their inclusion.

In some cases, a joinder agreement may be necessary to protect the interests of all parties involved in the agreement by ensuring that everyone is aware of and agrees to the addition of a new party.

Overall, a joinder agreement is important in formalizing the addition of a new party to an existing agreement and ensuring that all parties are on the same page with regards to their rights and obligations.