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The Contract Hound Guide to Effective Contract Administration

Every business that wants to scale its operations needs to implement efficient contract administration and management processes. As a result, it becomes a full-time responsibility for employees, who are termed as “contract administrators”.  Contract Administration is the management of contracts in general. It has the potential to impact all aspects of your business and you …

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Temporary Contracts: An Employer's Guide

Everything Employers Need To Know About Managing Temporary Contracts

Temporary contracts are normally a form of employment contract. Each temporary employment contract has an end date to take note of for renewal or termination. They are often more flexible than permanent contracts, because temporary contracts include fixed end dates that can be renegotiated by both the employer and the contractor. But here also lies …

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What Different Commercial Contract Types Are There?

Contracts act as a legally binding agreement between parties – they ensure adequate compensation after the fulfilment of contract obligations. With so many agreements needing a contractual base, there are many different contract types used across several industries – but for the majority of commercial contracts we encounter in our clients’ day-to-day business, contracts are …

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How to Correctly Terminate a Contract

Many scenarios may warrant contract termination. Understand the clauses in your contract as well as your rights under general contract law to ensure that your termination of contract is effective and, most importantly, lawful.  Wrongful termination is a real possibility and can leave your company in threat of legal proceedings. This article will help you …

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4 Tips to improve your contract approval process

4 Easy Ways to Improve Your Contract Approval Process

The contract approval process in an organization can be complex and time-consuming. Even more so when things are not well coordinated and located on different platforms. Fortunately, you can surpass various obstacles with contract management software. The main cause of problems arising from the contract approval process stems from human factors. When many people are …

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everything you need to know about vendor contracts

Everything You Need to Know About Vendor Contracts

If you are running a rapidly growing business, you’re likely find yourself in need of vendors that can provide you with products or services critical to your operations. While many vendor businesses today choose “standard form” contracts for the sake of consistency and uniformity, it is still possible that you may find yourself negotiating customized …

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Agreement Vs Contract: All You Need To Know

What are the differences between contracts and agreements? Both are important for partnerships between companies and other organizations. Still, many often get confused between the two and unknowingly enter into agreements that may or may not be legally binding.  In this article, we’ll introduce the differences and the benefits of one vs another. What are …

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How to Establish Effective Contract Management Practices

Managing contracts is a crucial, yet often overlooked, part of business management. As your organization grows, so does the volume and complexity of the contracts you have to manage.  Poor contract management practices can lead to costly accidental renewals, a lack of understanding of who manages the contracts, and a contract management system that cannot …

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