The National Hockey League and Kontinental Hockey League have extended their agreement for another year which calls for each to work together on the transfer of players between the leagues.

The announcement was posted on the Russia-based KHL's website. The extension runs through June 30, 2013.

Both parties are required to "do everything in their power to reach a consensus" in the case of a disputed contract. The leagues have never had a conflict over a transfer, KHL president Alexander Medvedev said.

The NHL and KHL are also obliged to exchange contract details and free-agent lists and will communicate any changes.

Medvedev and NHL Deputy Commissioner Bill Daly signed the agreement, the KHL said.