Workflow Templates: Contract Management Checklist

Contract Initiation

step"=>"Identify need for a new contract or renewal of an existing contract", "description"=>"Determine the objectives and requirements that necessitate a contract."}

step"=>"Select the contract type", "description"=>"Choose an appropriate contract type based on the relationship and the service or product being procured."}

step"=>"Draft the contract", "description"=>"Prepare the initial draft of the contract, incorporating all necessary legal and business terms."}

Contract Review and Approval

step"=>"Conduct internal review", "description"=>"Have the relevant departments or stakeholders review the contract to ensure it meets all business needs and complies with internal policies."}

step"=>"Negotiate terms with the other party", "description"=>"Engage with the counterparty to negotiate any terms that are not yet agreed upon."}

step"=>"Obtain required approvals", "description"=>"Ensure the contract has been reviewed and approved by all necessary internal and external authorities."}

Contract Execution and Management

step"=>"Execute the contract", "description"=>"Have all parties sign the contract through the appropriate means, whether electronic or hard copy."}

step"=>"Store and manage the contract", "description"=>"Keep the executed contract in a secure and accessible location, and manage it through its lifecycle."}

step"=>"Monitor compliance and performance", "description"=>"Regularly review the contract’s performance and the parties' adherence to its terms and conditions."}

Contract Closure

step"=>"Complete all contractual obligations", "description"=>"Ensure that all parties have fulfilled their respective duties as outlined in the contract."}

step"=>"Conduct a contract post-mortem", "description"=>"Review the contract’s successes and failures to derive lessons for future contracts."}

step"=>"Formally close the contract", "contact"=>"Once all obligations are satisfied and lessons learned are documented, formally terminate the contract or confirm its completion."}

Template Library Home

Contract Management Checklist

Contract Initiation

Contract Review and Approval

Contract Execution and Management

Contract Closure

Use this template in Manifestly

Template Library Home

Contract Management Checklist

Contract Initiation

Contract Review and Approval

Contract Execution and Management

Contract Closure

Use this template in Manifestly

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