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What is a contract?
A contract is an oral or written agreement between two entities or parties to achieve a particular solution. This contract always takes place considering the terms and conditions for the company or individuals. A company may apply a contract with the government regarding infrastructural development or energy related development.
Even an individual may apply a contract with a company for the expansion of a company. These facts may help you if you need contract management homework help. A contract should take place in peaceful situation or else things may get wrong.
What is contract management?
Contract management refers to the management or finding solutions for the contract that made or to be made. It is an overlook towards the contracts made with vendors, customers, employees or partners. Basically, it is done by a personnel or an identity.
It is the most important topic that you should follow if you need it for your contract management assignment help. Documents are an important part of contracts or it may leads to fraudulent. Therefore, before apply for a contract trying to gain knowledge about the enterprise or personnel is important.
Types of contracts
There are many types of contracts, some of them which may guide you towards your contract management assignment help are as follows-
- Purchasing contract-
This is the sort of contract where the company is the products or services and the supplier is buying it to sell it to the consumer.
- Sales contract-
It is a kind of contract between the customer and the company. The company is to sell products and services whereas the customer is to buy products and services.
- Trade agreement-
A trade agreement is an agreement where an entity is coming to a solution of business with an entity or organization for betterment of the business.
- Partnership agreement-
It is the most important agreement which may help you if you need any contract management homework help. It deals with the agreements and terms or conditions between partners of an organization or startup.
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Phases of contract management
There are three phases of contract management phase, pre-contract phase, contract execution phase and post award phase. These phases are important points for your contract management homework help. Pre-contract phase refers to the situation when the contract is about to take place.
Contract accomplishmentphase is related to the time when the contract is to be executed and post award phase is the situation when the contract is over and some people are credited for it.
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