When a contract registry keeps all the details in one place, maintaining and publishing important data becomes much less stressful. It can turn a contract renewal letter from a panicked line for paperwork into a relaxed click of a button. No supplier will be able to confuse you with alternative facts or data, and you are protected from the rush of your expensive contracts! What are the risks of not having a contract database? Contract Register can help you manage and track the execution of all your company`s contracts and agreements in one central location. Use it to set reminders, schedule more efficiently, and meet deadlines more efficiently. School buyers sign many contracts to purchase various goods and services. It can be difficult to keep track of the details of these contracts, especially if the employees responsible for purchasing in a school change over time. A contract register is a record of all your contracts and agreements in one place. The biggest advantage is that it ensures that you never miss an expiration date for a contract. We offer a contract register that you can use free of charge when registering. They will notify you within a reasonable time when your contracts expire and give you time to find out if you wish to renew this contract. Full knowledge of contract details allows schools to plan purchases in advance. You can create a contract database by inserting the details of all contracts at your institution into a spreadsheet that is stored electronically and centrally.
Alternatively, if you have an e-tendering provider, you can ask if they have an online contract register and a management module that you can use. The database serves as a central repository and contains details of all contracts your institution has concluded. It must include details for each contract, such as start and end dates, supplier name, supplier contact information, procurement methodology used when creating the contract (i.e. bid or tender from the ground up), expenses, and the nature of the process. In addition, you can add a column that highlights when you need to review the contract to allow enough time to complete a tendering process. To get started, you can download a sample contract registry from www.felp.ac.uk/contracts-register, then search for your previous tenders in the contract search tool, then upload your reviews and add the details to your database. If you have used framework agreements, you can also find the details of your offers on your framework consortium`s website. Once you`ve registered all your contracts in the database, set up a process to ensure that all contract validity dates, contract values, and contract issues are regularly recorded and monitored with robust KPIs.
Make sure that only the Executive or SMT can grant approval. Also keep a copy of any original contract stored electronically in the database in case a contract is requested. With a contract register, you can easily track your achievements. This ensures that they save you money in the long run and avoid losses in contract value. They also allow you to perform otherwise tedious processes with the click of a button. Examples include benchmarking, auditing and early warning before a contract expires. The minimum information to be included in the contract register for each contract awarded is as follows: In addition, Delta`s EU-compliant secure service protects these resources. This allows buyers to analyze their lifecycle costs and get the most out of their contracts. For example, most contract records allow you to: At the beginning of the procurement process, a contract is created that outlines the operational, functional and operational objectives that will be achieved as a result of the agreement. Effectively managing your company`s contracts throughout the contract lifecycle is an important part of the procurement process that can result in savings in all parts of the supply chain. A contract register is a complete list of all ongoing contracts that a school has entered into with suppliers.
It can take the form of a simple table or a Word/Pages document. If you do not have a database for your institution`s contracts, there is a risk that one or more of your contracts will become obsolete and you will not notice it. Your non-contractual rates may be much higher than your initial contractual rates, an example of this would be a gas and electricity supply contract, due to the variable energy market, your institution could switch to a much higher tariff. An extra-contractual rate could carry the risk of going over budget, and funds from another budget may be required, which could affect other areas within your institution.
