From the observations of the roles of Contract Managers in various organizations, the responsibilities covered in general are summarized below:
- Contracts; Drafting, Compilation, Review, Evaluation, Negotiation and Management. The contracts can be any of following forms;
· Contracting Agreements, Consulting Agreements, Sales / Purchasing Agreements, Sub-contracts, Licensing Agreements, Master Agreements,
· Non-execution Agreements (Non Disclosure Agreements)
· Distribution Agreements (resellers, agents, joint marketing etc.)
· Commercial and Public (Federal, State and Local Municipalities, Government authorities, Public Corporations) Contracting.
- Serve as the point of contact for customers on contractual matters. Act as the contractual officer between company and customers, ensuring timely review and approval / reconciliation of variations.
- On all standard and nonstandard contracts, provide redlined recommendations and often negotiate directly with customer attorneys or purchasing staff until consensus has been reached
- Maintain contractual records and documentation such as receipt and control of all contract correspondence, customer contact information sheets, contractual changes, status reports and other documents for all projects.
- As needed, provide guidance on contract matters to project managers or other operational staff, including training to new project managers and other employees in contracting practices and procedures.
- Develop and implement procedures for contract management and administration in compliance with company policy. As appropriate, contribute to or influence company policies.
- Monitor compliance by company employees with established procedures. Identify areas of recurrent pressure.
- Work with Risk Management Department / Finance to coordinate contractual insurance requirements.
- Work with Finance to ensure adherence to broader finance and risk requirements such as revenue recognition, pricing and discounting policies,, export controls etc. May include ‘financial engineering’ and understanding / evaluating economic impact of terms and term options.
- Support Product Management / Marketing to ensure company products and services are offered with appropriate, competitive terms and conditions
- Monitor competitive terms. Monitor customer satisfaction with our terms and conditions and contracting practices. Recommend changes.
- Ensure that signed contracts are communicated to all relevant parties to provide contract visibility and awareness, interpretation to support implementation.
- Handle on-going issue and change management
- Monitor transaction compliance (milestones, deliverables, invoicing etc.)
- Oversee Service Level Agreement Compliance
Ensure contract close-out, extension or renewal.