Contract Administrator job description
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What does a Contract Administrator do?
The Contract Administrator is essential in managing and overseeing the company's contracts with clients, vendors, and partners. This role ensures that all contractual obligations are met while minimizing risks and maximizing value for the organization.
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What are the Key Responsibilities of Contract Administrator
- Draft, review, and negotiate contracts with clients and vendors.
- Ensure compliance with contract terms and conditions.
- Maintain a comprehensive database of all company contracts.
- Coordinate with legal teams to address any contractual disputes or issues.
- Monitor contract performance to ensure fulfillment of obligations.
- Prepare reports on contract status, modifications, or extensions.
- Collaborate with procurement teams to align contract terms.
What are the Skills and Requirements for a Contract Administrator?
- Strong understanding of contract law and legal terminology.
- Excellent negotiation skills for favorable terms agreements.
- Attention to detail in reviewing complex documents.
- Proficient in using contract management software like SAP Ariba or Concord.
What are the KPIs to track for Contract Administrator?
The Contract Administrator's performance is evaluated based on timely execution of contracts, reduction in contractual disputes, adherence to compliance standards, and successful negotiation outcomes that benefit the organization financially or operationally.
Contract Execution
Timely processing from initiation to finalization.
Dispute Resolution
Reduction in number of unresolved contractual disputes.
Compliance Adherence
Ensuring all contracts meet regulatory requirements
Reports to
Legal Director
Collaborates with
Procurement Team, Legal Department
Leads
Are any specific tools or software required for the Contract Administrator role?
- SAP Ariba
- Concord
- DocuSign
What is the qualification of Contract Administrator?
Bachelor's degree in Business Administration or Law; 3-5 years experience in contract management or administration roles.
