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10 Tips for Successful Vendor Contract Management

Ask any business owner, and you will know how much businesses rely on third-party vendors to run their businesses successfully. From procurement, legal, key component supply to managing IT infrastructure, every business has a dependence on third-party vendors that they absolutely can’t do without. Although it seems to get a vendor onboard is easy (theoretically… Read more »

contract negotiation

The Ultimate Guide to Contract Negotiation

Back in 1998, the National Basketball Association (NBA) team owners and players were in acute disagreement over contract terms. So much so that the negotiations lasted six months, causing the game season to be postponed. In the end, the owners had to exercise a final arbitrary deadline for the players to participate, or else they… Read more »


Contract Authoring: Everything You Need to Know to Get Started

The stage where a contract is drafted is called contract authoring. As simple as it sounds, the process of authoring a contract is no easy feat. Contract authoring involves considering and understanding the needs of both parties while drafting clauses in standardized format. Contract authoring is never a one-man’s job. It involves several people and… Read more »

Best Tools in a Contract Management Software

7 Essential Tools in a Contract Management Software for 2023

A contract management software offers end-to-end management for your documents no matter what industry you’re in. It is important that your contract is flawless for many reasons. First, you want the document to be precise and accurate to create a clear understanding between all parties involved. Then you want your contracts to be managed well… Read more »

Contract Repository

What is Contract Repository?

Do you still print your contracts and store them in filing cabinets? If you’re unaware, there is a better way to manage your contracts. Technology has made everyone’s lives more convenient, especially with dealing with contracts. With today’s digital contract transformation, users can now access their contracts anytime, anywhere, and make decisions at the speed… Read more »

Difference Between Contract and Agreement

Businesses that don’t use contracts or manage them properly can face many challenges. Contracts help strengthen relationships and create a good workflow within the organization. So, every business must understand what contracts and agreements are and how they can benefit from them. We’ve all come across the words contract and agreement, but what is the… Read more »

5 Common Contract Drafting Mistakes

In one way or another, all businesses will have experienced initiating a contract. A contract is legally binding and creates a mutual agreement between all parties. They are used for vendors, clients, partners, and employees. That is why when drafting a contract, it’s important that all clauses are clear and all agreements are stated to… Read more »

service level agreements

Service Level Agreement (SLA): The Ultimate Guide

Among the several quirks of Dr Sheldon Cooper from the TV series The Big Bang Theory was the infamous room-mate agreement. And even though the agreement was more than 100 pages long and was hilariously elaborate, there were loopholes pertaining to the lack of clarity about certain terms. For instance, the term ‘emergency’ was not… Read more »

contract administration

What is Contract Administration? A Comprehensive Guide

Ever wondered how businesses involved in large-scale projects such as bridge construction draw up contracts? Recording and anticipating needs and expectations is indeed a herculean task in large contractual projects, apart from getting everyone to sign the contract. This is where the concept of contract administration becomes crucial. Contract Administration vs Contract Management Contract administration… Read more »