Success in Contract Management

organizational development

We define the whole process of preparing, applying, auditing and analyzing a contract as contract management. Via contracts, we aim at:

  • Mitigating the risks,
  • Enhancing the competitive aspects,
  • Increasing the productivity and fiscal performance and
  • Increasing the mobility of people and businesses.

Contract terms should not harm the harmony in the content and should contain whole aspects of the parties’ agreement. And this requires a good training, a tight discipline, attention and utmost care.

There are various risks and opportunities in the content of a contract. Therefore, we must spend time and efforts and acquire the necessary knowledge and experience to realize contract management.

Firstly, we should know the prerequisites of a contract and pay close attention to them and comply with these points during the preparation, formation and signing phases.

A few topics to know for success in contract management are;

  • While preparing the contract, whether the other party is qualified or not,
  • While forming the contract, whether the other party has expertise, authority and rights to sign the contract or not,
  • While preparing and signing the contract, whether all parties adhere to the prerequisites or not,
  • Whether the contract is legitimate and in accordance with requirement as to form or not,
  • To which extent the contract is legally binding for you and the other party,
  • When the pursuance of contract terms is impossible, whether the terms are against law, ethics and customs or impossible and not entitling or not,
  • To what extent the conditions of the contract suit your requirements and pursuance ability,
  • What kind of damages will be incurred by you fail to perform your liabilities as stipulated by the contract or if you breach any provision.