IACCM Contract Management Forum

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2019-04-21 15:57:41

Whats the best way to ensure all Contract Terms are being complied with ?

We are an IT service provider.I am researching on best way to provide reasonable assurance top management on Compliance status against Contract terms.
This requires us to check if all Obligations,Milestones,Commitments etc are being met both at our end and any commitments from customer as promised in contract. Idea is to identify and fix deviations from contract terms , Reduce revenue leakage or Cost/Scope creeps. My strategy is (a) Review contracts before signing and call out Important terms to stakeholders (b) Assist proper handover of contract from Sales to Operations teams identify Owners to terms (c)Conduct Compliance Audits on Key accounts to assess compliance (d) Share lessons learnt back to Sales/Operations etc. (e) Use Self assessments by Operations where we can't reach them due to bandwidth issues
Any Suggestions on how this can be made better ?
 •  Na  •   2019-05-13 17:22:01
In addition to all your suggestions, I would think that a self certification from all the stakeholders would serve as a good base for your update to the management unless of course you are using a contract management software that allows you to generate compliance reports.
 •  GSPC Group  •   2019-07-27 18:34:48
As Bhagavathi N pointed out, a self certification/declaration can be taken to ensure no deviation is taken by a bidder. This would help in evaluating bids faster.

Following is the indicative language of that declaration for your reference:

"We hereby agree to fully comply with, abide by and accept without variation, deviation or reservation all technical, commercial and other conditions whatsoever of the Bidding Documents and Amendment/ Addendum to the Bidding Documents, if any, for subject work issued by_________.

We hereby further confirm that any terms and conditions if mentioned in our bid, shall not be recognized and shall be treated as null and void."
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