Unlock the essentials of contract management with our informative articles and guides. Stay informed on best practices for drafting and executing contracts.
Contract managers perform various duties over the course of a contract. To begin with, they control variations to the contract in terms of change of policy, quality, quantity, price, timing and delivery. Variations in this case refer to the amendment of a contract which changes the original terms and conditions of the agreement. Contract managers […]
There are distinct differences between a contract and a strategic initiative. First, a contract is an agreement that is legally binding between two or more parties, while a strategic initiative in an organizational tool that helps in achievement of organizational goals. Strategic initiatives are seen as means over which an organizational vision is transformed into
What is Contract? A contract is basically an intended plan concerning two or more parties and which is enforceable by law as a legally binding agreement. What are the components of a legal contract? The contract is only considered to be valid and legal if it contains the six essential components. One of them is