Contract Administration & Management
Contract administration involves all activities related to the monitoring of suppliers, contractors and service providers’ performance in the fulfillment of their contractual obligations, and to ensure appropriate actions are taken to promptly remedy any deficiencies observed in contract implementation, scope or terms and conditions. It is the foundation of all business relationships.
Contract Administration & Management
Contract administration involves all activities related to the monitoring of suppliers, contractors and service providers’ performance in the fulfillment of their contractual obligations, and to ensure appropriate actions are taken to promptly remedy any deficiencies observed in contract implementation, scope or terms and conditions. It is the foundation of all business relationships.
Contract Administration & Management
What we do:
In contract administration, we aid in planning which may include the nomination of contract administrators, a strategy for under- taking periodic performance review, the timeframe for certifying performance and acceptance of contract deliverables in order to avoid payment delays, and an understanding of the contract terms and conditions to ensure effective oversight.
As Contract Administrators, we perform the obligations and duties specified in the contract and to ensure the suppliers, contractors and service providers implement the contract in accordance with its terms and conditions.
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What we do:
We have a stringent system for inspection and acceptance of the goods, works or services prior to the completion date or termi- nation of the contract. Our inspection and verification process ensure that:
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The correct quantity has been received.
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The goods, works or services meet the technical standards defined in the contract.
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Any variations to the contract are well documented and accounted for.
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The goods, works or services have been delivered or completed on time, or that any
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Delay has been noted and appropriate actions taken as indicated in the contract.
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All required manuals or documentation have been received.
Why you need it:
Our contract administration is very important because it is where the results of the procurement process are obtained and the requesting entity is in a position to finally receive the expected benefits of their procurement request. Without contract award and effective contract implementation, the objectives for initiating the procurement process cannot be attained.
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Contract management ensures that both the parties meet the contractual obligations.
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It provides a well-documented audit trail.
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With contracts, you can easily track rebates and assure all of the saving are negotiated and captured.
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Contract management helps to eliminate potential breach of contract situations.
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Maximizing financial and operational performance and decreases the level of risks.