Security

• The security of signed documents is critical. Maintain signed contracts in a locked storage environment with limited access. When someone needs to review the document, provide her with a photocopy of the original. Whenever possible, create a secure online storage location that is password protected. Authorized personnel can be given access to a scanned copy of contracts online. This method protects both the original document and the privacy of its contents.
  
  

Organization

• Make a list of all contracts in a spreadsheet along with critical information from each. Include the origination date, basic contract provisions, contact information, payment address and contract termination date. Use this spreadsheet to easily reference all contract information without needing to weed through legal jargon each time there are questions about a contract.
  
  

Dates

• Most contracts include specific dates such as milestone dates for tasks, renewal dates and contract termination date. Make a physical contracts calendar that lists all important contract-related dates and set up electronic reminders via email or electronic calendar system that sends alerts about important dates to all company employees involved with the contract.
  
  

Responsibilities

• Periodically check the status of projects included in the contracts. If appropriate, use project management principles and regular meetings to prevent deviation from contractual obligations. If necessary, involve upper management to keep interference from other projects or duties at a minimum.
  
  

Renewal

• Several months (or more) prior to a contract's renewal date, gather supporting documentation for the contract negotiator. Obtain factual data like sales figures, discount rates and milestone achievements. Solicit feedback from involved participants about desired contract changes. Package this information for the contract negotiator.
  
  

New Contracts

• Review every new contract carefully and clarify any confusing information. Make sure you are provided with contact information, financial payment arrangements and any other information needed to maintain and complete the contract terms. Update all contract management tools including date reminders.
  
  

Prioritize

• Assign a priority to all contracts to help distribute responsibility and manage the urgency of each contract. Some contracts are routine after implementation, while others need constant monitoring. This prioritization assists you and your colleagues in knowing where to focus most of your resources.