Contract Administration: Tools, Techniques, and Best Practices

Contract management
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There are some best practices that can help -- time-honored methods for managing contracts that help you avoid breaching their terms and conditions. One fundamental best practice in contract administration is understanding the type of contract you're dealing with.

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There are two types of contracts -- simple contracts and deeds -- and each one carries with it different terms and obligations. A simple contract is any contract that is not a deed.

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Simple contracts encompass agreements to sell products and services, such as the lease on your storefront and any the contracts you have with your staff. Deeds, on the other hand, are more complex as they must be made in writing, signed, witnessed and delivered with an official seal. Mortgages are often made by deed, as are certain agreements with creditors and banks.

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Nearly all contracts you encounter in your business will be simple contracts. These simple contracts can be further classified as either unilateral or bilateral. A unilateral contract implies that only one party is promising to do something and the other has no legal obligation to purchase something in return or to fulfil any other part of the contract.

What Is Contract Management?

A bilateral contract implies that both parties have duties and obligations to uphold. Contrary to popular belief, contracts do not have to be written in ink to qualify as valid or legal. However, clearly outlining the terms and conditions of any contractual agreement serves to protect your business and helps avoid dispute.

When you sell a product or service, for example, the main terms are the price paid and the description of the goods and services. The receipt can take the form of the contract and it's important that you also outline your terms and conditions for return or cancellation on that receipt.

When it comes to more complex transactions, such as the sale of property, the law does require that certain terms be outlined in full. If in doubt, always outline all of the terms and conditions -- you can't go wrong by writing too much as opposed to too little. This sounds like a no-brainer, but businesses need to be careful to only put on offer what they actually wish to sell or what they actually have available in stock. This is where the concepts of "offer" and "acceptance" come to play in contract administration.

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The offer is often implicit. A retail store that displays clothing in a window, for instance, is effectively offering that clothing for sale even if there isn't a sign to say how much the clothes cost. Document on using Spend Analysis to help agencies take a more strategic approach to procurement. Contracts are more pervasive and critical to mission performance throughout the Dept. The article explores problems inherent in contracting and acquisition requirements and some practical suggestions for decision analysis for more effective contract administration.

ETS supports complex acquisition programs by providing robust systems engineering support and technical discipline through the acquisition lifecycle. Best Practices and Lessons Learned. The Government develops the IGE without bias and typically without contractor input, and when done correctly, it is directly tied to comprehensive market research. Format and contents of the IGE will vary in accordance with the complexity and value of the requirement. Acquisition Advisory Panel Panel reviewed the use of commercial practices, performance-based contracting, the performance of acquisition functions across agency lines of responsibility, and the use of Government-wide contracts.

The IT Services Qualification Center ITsqc creates capability models and qualification methods to improve sourcing relationships in the Internet-enabled economy. Organizations are increasingly delegating IT-intensive business activities to external service providers to take advantage of new growth in the global telecommunications infrastructure. The business processes being outsourced range from routine and non-critical tasks, to strategic processes that directly impact revenues.

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Managing and meeting client expectiations is a major challenge in these business relationships, and examples of failure abound. DON services contracting. A quick reference guide to service contracting best practices. The use of existing standards provides substantial cost benefits for the government. Industry Where in Federal Contracting. Maxwell BOS Overview. MDA Contract Clauses. Metrics or measures. A list of metrics organized by Demand Management, Supplier Management, and Process Management useful for managing service acquisitions.

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Contract Management in a nutshell principles and practices - Contracts Management - Dubai - Meirc

Contains a performance Assessment Plan PAP which describes contract-specific provisions and methodology for assessing contractor performance. Includes measures of assessment and their definitions such as periodic and random sampling, validated customer complaints VCC , unscheduled visits and customer evaluations. In the interest of enhancing performance of contracting personnel throughout DOD, the DCMA PMR team prepared a newsletter to share their observations, best practices, and lessons learned.

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