As your contract team and business grow, standardize your contract management practices and anticipate contractual needs with ease by using contract management templates. No matter the industry, identifying and recording contract details is essential for the effective, seamless management of contracts. Signature of Approval: Finalize the contract with approvals from the required signatories.Reports and Audits: Enter details for any reports or audits of the contract, including report name, description, due date, and date delivered.Date Delivered: Enter the completion date of contract deliverables.Also include details regarding mitigation action for each issue or risk. Major Issues and Risks: Enter any issues or risks related to the contract, including the likelihood, impact, and overall influence of each.Adherence to Standards: Enter a status for meeting your budget-related contract standards, such as Under, On, or Over.Performance Status: Enter the performance indicator status, such as Healthy, At Risk, or Progress Halted, either for the contract as a whole or for each deliverable. Amendment History: Track the history of any contractual amendments and add a unique amendment number and description for future reference.Īdditionally, contract management templates often include the following items to further define a contract and its related deliverables.Payment: Enter contract payment details, including terms, payment received date, invoice sent and received dates, and any incentives or rebates.Deliverables: Enter details for each contract deliverable, including deliverable name, due date, exceptions, description, and date delivered.Terms and Conditions: Enter the contractual obligations and rights of each party related to the contract.Expiration Date: Enter the last day that the contract is valid.Commencement Date: Enter the date on which the contract begins.Scope and Coverage: Enter contract scope details such as vendors, service providers, or contract extension options.Number: Enter a unique number for the contract for future reference.Title: Enter a unique title for the contract.Though contract management templates vary, most include the following sections: With an effective contract management template, you can keep contractual obligations organized for easy reference. Successful contract management allows you to capture contract details, track progress over time, and gain insights that help you continually improve your contract management processes. Using an effective template, you can anticipate contractual needs, then proactively record and chart progress. To learn more, read this guide to effective contract management.Ī contract management template helps you track a contract’s scope, terms and conditions, deliverables, statuses, payment details, due dates, risks, resolutions, and amendment histories. By doing so, teams can ensure successful contract deliverables and management. With this template, any team member can easily review a contract’s details and track its status. Risk: List the issue, the level of risk, the potential impact, and any mitigation action or resolution details.Deliverables and Performance: List contract deliverables, due dates, milestones, and formal review and performance criteria.This template calculates total cumulative costs automatically and includes a section that indicates whether the contract is within budget. Finances: List contract title, reference number, account code, cost center, payment terms, contract cost, and total approved contract budget.This fully customizable, all-inclusive template helps managers track the following critical components of contract management: The success of a business and the satisfaction of its clients relies upon the accurate tracking of contractual obligations and deliverables. Microsoft Excel | Google Sheets | Smartsheet Getting started with the Smartsheet API.ENGAGE Smartsheet ENGAGE brings together our global customers, experts, and partners to share their experiences, ideas, and best practices.Smartsheet events Your hub for Smartsheet events, webinars, Q&As, and user groups.Partners Learn about the Smartsheet partner program and access our partner directory.Community Explore user-generated content and stay updated on our latest product features.Help and Learning A comprehensive knowledge base, including articles, tutorials, videos, and other resources that cover a range of topics related to using Smartsheet.Content Center Articles and guides about project management, collaboration, automation, and other topics to help you make the most of the Smartsheet platform.
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