A contract manager is responsible for supervising an organisation's contracts with other organisations. This includes developing, negotiating, and monitoring the contract by acting as a liaison between the contract's two or more signatories. The duties of a contract manager vary depending on the function of the organisations, but there are a number of tasks common to most positions.
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When producing their products or services, many organisations have to contract with outside vendors for functions that cannot be performed in-house. The contracts manager is often responsible for identifying a group of vendors from whom these services might be contracted.
Prepare Requests For Proposals
When looking for a party to perform a service, the organisation will sometimes issue a request for proposals from outside organisations. Requests for proposals, usually prepared by the contract manager, outline the service the organisation requires and the price they are willing to pay for it.
Manage Bidding and Selection
When attempting to secure business with an organisation, such as in response to a request for proposals, potential vendors will often put forth bids or estimates outlining the service they are willing to perform and the price at which they will do it. The contracts manager is responsible for managing this bidding process and, coordinating with upper management, selecting the winning proposals.
After one or more proposals has been selected, the contracts manager will enter into more specific negotiations with the winning vendors. This includes specifying the precise services that the vendor will provide and the price the organisation will pay. The manager will then draw up a contract detailing the exact responsibilities of each party.
Ensure Legal Compliance
While a contract is being drawn up, the contracts manager, often with the help of organisation's attorneys, will make sure that the contract complies will all applicable laws and is worded in such a way that both parties are legally bound to perform the actions specified.
Inform Organization of Contract Terms
After a contract has been negotiated and signed, the contracts manager will usually inform parties in the organisation who are affected by the contract of any new tasks or responsibilities assigned to them.
The contracts manager is also responsible for monitoring the implementation of the contract. This is done by checking with all involved parties and making sure that everyone is fulfilling contracted duties.
Lastly, if conflicts over the contract---such as disagreements over interpretation or implementation---do arise, the contracts manager will attempt to resolve them amicably without involving legal counsel
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