Florida Building Contractor Business/Finance Practice Exam

What are written documents issued after the execution of a contract that alter contract documents called?

1. Amendments

2. Attachments

3. Schedules

4. Addenda

The correct answer is: Addenda

Written documents issued after the execution of a contract that alter the contract documents are known as addenda. An addendum serves to modify, clarify, or supplement the original contract terms after the contract has already been executed. It is critical for ensuring that any necessary changes or additional information that arise during the life of the contract are documented and agreed upon by all parties involved. Addenda can arise from various circumstances, such as changes in project specifications, adjustments to timelines, or updates in pricing. They help in maintaining clear communication and understanding among the parties involved and aim to reduce potential disputes by providing official documentation of agreed changes. Using addenda appropriately is essential in maintaining the integrity of the project and ensuring all stakeholders are on the same page. While other terms like amendments could appear similar, an amendment usually refers to modifications made to the terms of a contract before it is finalized or executed, thus differentiating it from the concept of an addendum, which applies post-execution. Attachments and schedules serve different purposes in project documentation and do not specifically pertain to altering contract terms post-execution in the same formalized manner as addenda do.