Introduction

Contract Management Software

Contract management is the process of controlling all the agreements that a company makes, right from the initial drafting stage to the ensuring of compliance by the company as well as by the other parties. Any changes or refinements made to an agreement would ideally involve the same control and cycle methods, although most of the items would remain unchanged.

The Contract Management Software or CMS is what provides control over this process for the entire organization.

The items that are controlled by the CMS include:

  • Drafting and assessing agreements.
  • The agreement templates.
  • The standard clauses contained within the templates.
  • The business terms contained in the clauses, including the governing date, pricing, delivery, discounts, penalties for non-compliance, legal jurisdiction, etc.
  • The processes that would bring about compliance.

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