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CONTRACT MANAGEMENT AND CHANGE ORDER PERFORMANCE AUDITNOVEMBER 2012101 CITY HALL PLAZA AUDIT SERVICES FIRST FLOOR, SUITE 1700 DURHAM, NORTH CAROLINA 27701CITY OF DURHAM AUDIT SERVICES DEPARTMENT Provides
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How to fill out contract management and change
How to fill out contract management and change:
01
Begin by reviewing the contract thoroughly to understand all its terms and conditions.
02
Identify any necessary changes or updates that need to be made to the contract.
03
Consult with all parties involved in the contract, such as the client, vendor, or legal team, to discuss the proposed changes.
04
Document all agreed-upon changes in writing, clearly specifying the sections or clauses that are being modified.
05
Obtain signatures from all parties involved to acknowledge their acceptance of the changes.
06
Update the contract management system or database with the revised contract to ensure easy access and proper tracking of changes.
07
Communicate the changes to all relevant stakeholders, such as internal teams or external partners, to ensure everyone is aware of the updated terms.
08
Monitor the contract periodically to ensure compliance with the agreed-upon changes and address any issues that may arise.
Who needs contract management and change:
01
Organizations of all sizes and across various industries require contract management and change.
02
Businesses that engage in regular contract negotiations with clients, vendors, or partners benefit from effective contract management and change processes.
03
Legal departments or legal professionals within organizations play a significant role in contract management and change to ensure legal compliance and protect the organization's interests.
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Project managers or procurement teams involved in sourcing and managing contracts also require contract management and change to effectively oversee contractual obligations and modifications.
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What is contract management and change?
Contract management and change involves overseeing and managing the terms and conditions of a contract, as well as any modifications or amendments that may occur during the contract's lifecycle.
Who is required to file contract management and change?
Contract managers, procurement professionals, and individuals responsible for overseeing contracts are typically required to file contract management and change.
How to fill out contract management and change?
Contract management and change forms should be completed with accurate information about the contract, including any changes that have been made. It is important to follow the specific guidelines provided for filling out the form.
What is the purpose of contract management and change?
The purpose of contract management and change is to ensure that contracts are properly administered, updated, and maintained throughout their duration to protect the interests of both parties involved.
What information must be reported on contract management and change?
Information to be reported on contract management and change typically includes details about the contract, any changes made, reasons for the changes, and the parties involved.
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