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Contract Management


The contract is finalised after the parties have negotiated and all necessary amendments have been made and accepted by the parties. They look into the terms and conditions of the contract and every term or condition is according to the letter of the law. The important terms which are to be looked into are:

  • Contractual Responsibilities of the Parties: Who legally has to do what and by when?
  • Limits of Liability: It specifies the liability of each party towards the other and the extent of the same.
  • Confidentiality: Most companies require their financial transactions kept confidential and private.
  • Force Majeure: What is the procedure when unforeseen problems happen? This would cover situations such as fire, flood,
  • strikes etc.

What is Contract Management?

Contracts and partnerships are an essential part of today’s business culture. Contract management is becoming an integral part of project management, and...

Why Contract Management is important?

Contract Management is important for the parties because:
It set standards for the services, performance or goods provided by one party to the other party.

What should a Contract Management System have?

The Contract Management System should be such that it yields more benefits rather than adding on to your present set of troubles and the system should consist of...

What are the services provided under Contract Management?

Service delivery management is concerned with ensuring the service is being fully delivered as agreed between the parties...

Benefits of Contract Management

Standardized Processes and Procedures: This ensures that the contracts are all created, maintained and monitored in a standardised manner and reduces the risk on the parties...

Essentials of Contract Management

In order to explain what contract management we must analyze the aspects and features of Contract management itself and these are: