Tag: Contract Management

With potential profit-making opportunities arising every, many companies are getting into agreements with other authority brands. However, despite all the lucrative benefits that come with forging meaningful partnerships with other companies or individuals, challenges are bound to arise. This article focuses on the challenges of contract management and how to overcome them. Let us delve into specifics. 1. Verbal contracts It is no doubt that the agreements that we get into by word of mouth are the riskiest. As much as the idea of a contract is mostly forged from initial verbal communications, it is vital that you put every word into writing. Verbal contracts are deemed viable in a court of law. However, the real problem comes in its interpretation. The terms and conditions state...