Once signed by both parties, your contract is a legally enforceable document, governed by Australian contract law. This means there are legally binding obligation and rights assigned to both parties. Contract management is the process by which you ensure that each party upholds their obligations under the contract.
There are a range of other policy, legislative and regulatory requirements that may be relevant to your contract depending on the subject matter, value and/or location of the contract, such as:
• privacy
• work health and safety
• confidentiality
• taxes and other duties
• security
• quality and fitness of purpose
• records management.
Many of these requirements will be addressed (either directly or indirectly) in the contract. More detailed information on common contract provisions is included in Appendix 1.