An addendum format is a structured way to document important additional information. It provides a consistent approach for adding content to an existing agreement without having to revise the entire document. Addendums are used in various business settings such as contracts, leases, deals, and other legal arrangements. They are also used to supplement corporate or government policies that require changes over time or as new regulations come into force. By using an addendum format, business partners can easily update documents quickly and accurately, allowing them to save time and money.