Managing the physical contract and the timetable for making key decisions |
3.1 Hard copy contracts are stored and logged, and are easily accessible when required; for complex contracts, a summary and/or contract operations guide is produced.
3.2 Contract management software is used for recording key information, to give, for example, search capability; relevant ongoing contract management information and documentation is retained and managed.
3.3 There are mechanisms in place for identifying key contract 'trigger points', such as notice periods.
3.4 There is regular and ad hoc reporting of contract management information.
3.5 There are mechanisms in place for handling administration around contract closure or termination.
3.6 The customer considers the cost of contract management activities to the supplier, and the cost is proportionate to the contract size and risk.
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