Define "change order" in contract terms.

A "change order" in contract terms specifically refers to a document that outlines changes to the existing contract agreement. This may include modifications to the scope of work, adjustments in the project timeline, or changes in the contract price due to unforeseen circumstances or requirements that arise during the execution of the contract.

The significance of a change order lies in its formalized approach to documenting these adjustments, ensuring that both parties agree to the modifications and that there is a clear understanding of the new expectations. Proper management of change orders is crucial for maintaining transparency and avoiding disputes during the course of the contract.

While the other options may address aspects related to contracts, they do not accurately define a change order. For instance, a document reflecting breaches of contract relates to violations rather than changes. Reports on contractor performance focus on assessing a contractor's execution of the contract rather than altering its terms. Proposals for future contracts pertain to negotiations for new agreements and do not apply to adjustments within the parameters of an existing contract. Thus, the definition of a change order is limited to capturing those specific modifications and agreements within the contract's original framework.