Contract administration has the potential to impact all aspects of your business well beyond the legal team, from sales and business development to marketing. In short, contract administration involves the planning, negotiation, execution and performance of any contact with customers or vendors. The pr...
Administration of a contract can include many specific duties, depending on the nature of the engagement. The contract manager is responsible for communication between the parties, including status updates that track progress towards goals. In many instances, he may act as the chief compliance officer...
The influence of key exhibitions continues to expand; these include China Import and Export Fair (Canton Fair), China International Fair for Trade in Services, China International Fair for Investment and Trade, China International Consumer Products Expo, Global Digital Trade Expo, China-Africa Economic...
Contract administration can be a long process, especially if it is the first time an employer and contractor are working together. It can also be drawn out, as theproject planning processmight necessitate changes to the contract. All of these changes and tweaks, as well as initial negotiations,...
The biggest benefits of contract management software is that it automates your processes, reduces contract administration for overburdened teams and generally makes life easier for everyone. Continue to exploit this benefit by considering: A 'Built for NetSuite’ SuiteApp so your business can see th...
But what does that mean in practice? And what does it take to be an exceptional contract manager? Find out in this guide. What is a contract manager? A contract manager is an individual in a company responsible for the management and administration of contracts, as well as the process by...
Every contract, no matter its size or complexity, has to go through the five stages of contract lifecycle management. Understanding those stages can help you find areas of improvement in the contract administration for your organization. 1. Document generation ...
By integrating with an AI-driven solution, businesses can add efficiency and speed to their contract management system. What Does Contract Lifecycle Management Mean? When businesses envision driving efficiency into their documenting process, a question that often pops up is, ‘What is Contract ...
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Term sheets evidence serious intent but are generally not legally binding.2A company may sign a term sheet to agree to the terms of the instrument. However, for example, a separate loan agreement must be signed to be legally binding; a company is not under contract for the loan even if it...