Addendum

Addendum

• A. Addendum
• B. Alternate
• C. Buy-Out
• D. Cost Report

Answer: (A)

An addendum is a document issued to modify or clarify the original bidding documents. In procurement and cost controls, questions or changes often arise after the initial package is released but before bids are submitted, so an addendum is created to address those issues. It becomes part of the contract documents and must be acknowledged by all bidders, ensuring everyone uses the same information and preventing last‑minute, undisclosed changes. That makes it the best fit for what the term describes. The other terms refer to different ideas: an alternate is a substitute option, not a document that updates the package; a buy-out is the act of purchasing ownership or controlling interest; a cost report is a financial summary of expenses.

An addendum is a document issued to modify or clarify the original bidding documents. In procurement and cost controls, questions or changes often arise after the initial package is released but before bids are submitted, so an addendum is created to address those issues. It becomes part of the contract documents and must be acknowledged by all bidders, ensuring everyone uses the same information and preventing last‑minute, undisclosed changes. That makes it the best fit for what the term describes.

The other terms refer to different ideas: an alternate is a substitute option, not a document that updates the package; a buy-out is the act of purchasing ownership or controlling interest; a cost report is a financial summary of expenses.