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The Contract Administration and Management Policy template is used by the Company. It is an internal policy that outlines the scope and procedure for the management of contracts executed by the company
The purpose of this policy is to:
It is important to have a contract administration and management policy as it helps a company to streamline its approach towards managing not only the existing contracts but also creating new ones. It helps to improve productivity, ensure legal compliance, control costs and reduce error.
The document should be used by Company's senior management while drafting the Contract Administration and Management Policy.
The Company should notify its employees whenever this policy undergoes major changes.