Contract Management
The contract management process refers to the interaction between the supplier and the purchaser to ensure that both parties meet their respective obligations under the contract. The contract management process normally includes managing:
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Contract Delivery - To ensure that the day-to-day contract administration activities are in accordance with the contract deliverables and milestones.
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Processing of Goods Received Notes - to enable the payment of the suppliers' invoices.
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Supplier’s Performance - To ensure that the supplier’s performance and service level are adhered to as per the contract.
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Claims and Dispute Resolution - To ensure that all claims or disputes are discussed and resolved amicably or referred to arbitration as per the contract.
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Contract Changes - To ensure that changes in activities, requirements or products are documented, agreed and regularized through contract amendments or change orders.
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Contract Terms & Conditions - To ensure implementation of the contract rewards, penalties, warranties and/or guarantees as may be applicable.
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Contract Close-Out - To ensure proper close out of the contract upon its completion.