Glossary · People and paperwork
Addendum
In short
A document added to an existing contract to modify, clarify, or add new terms without rewriting the entire original agreement. You might use an addendum to adjust an LOI or purchase agreement during negotiations.
What it means in a deal
During a deal, an addendum is common to reflect changes identified during due diligence, such as a price adjustment or new closing conditions. Ensure all parties sign and date any addenda to make them legally binding. It's a critical tool for formalizing changes without delaying the deal.
Related terms
Common questions about Addendum
Defined by CapBench SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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