The contracts administrator conducts a comprehensive review of agreements to ensure accuracy, compliance, and alignment with organizational objectives. The primary responsibilities during the review include:
Approval and Execution Readiness
Prepares the agreement for final approval by authorized signatories.
Ensures the proper execution of the contract, including signatures and notarization, if required.
Version Control and Documentation
Tracks all modifications and ensures proper documentation of revisions and final approvals.
Manages version control and ensures consistent use of templates or standardized language where applicable.
Coordination with Stakeholders
Works closely with internal teams (e.g., legal, finance, procurement, and operations) to incorporate feedback and secure necessary approvals.
Communicates with external parties for clarification or negotiation of ambiguous terms.
Financial and Budget Review
Evaluates the pricing structure and payment terms to confirm alignment with budgetary expectations.
Reviews any penalties, late fees, or discounts to ensure favorable conditions.
Terms and Obligations Review
Confirms that key business terms (such as deliverables, payment schedules, service levels, warranties, and deadlines) are clear and enforceable.
Ensures responsibilities and obligations of all parties are properly defined and achievable.
Risk Assessment
Identifies and mitigates potential legal, financial, or operational risks by assessing contract terms and conditions.
Flags unfavorable terms and proposes amendments to reduce risk exposure.
Compliance Check
Verifies the agreement’s compliance with applicable laws, regulations, and internal policies.
Ensures all necessary clauses (e.g., indemnification, confidentiality, force majeure) are present to protect the organization’s interests.
*Disclaimer: These services do not constitute legal advice, nor do they replace the services of certified contract professionals or attorneys. Clients are encouraged to seek appropriate legal counsel or certified resources for matters requiring legal interpretation, formal certifications, or complex regulatory compliance.
