A flexible contract allows for adjustments in its terms and conditions after it has been deployed, accommodating changes in circumstances or requirements. Unlike traditional, fixed contracts that bind parties to specific conditions, flexible contracts can adapt to new information or shifting goals.These contracts often utilize smart contract technology, which automates processes. This automation ensures that any updates or changes are executed seamlessly, preserving the integrity of the agreement.Flexibility can enhance collaboration among parties by allowing modifications without the need for lengthy negotiations or re-drafting documents. This adaptability can also help manage risks, ensuring that agreements remain relevant over time.In practice, flexible contracts may incorporate features such as predetermined parameters for updates, conditions for renegotiation, or modular components that can be added or removed as necessary. Overall, this approach aims to create more resilient and responsive agreements, fostering better relationships and outcomes.