Jurisdiction(s):
United Kingdom

Key definition

Contract management definition

What does Contract management mean? contract management means the organised oversight of a contract after signature and commencement, to secure delivery, compliance and value for money. In legal practice it covers: monitoring performance against scope, service levels and KPIs; operating change control and variations; giving, receiving and recording contractual notices and approvals; managing payments, price adjustments and milestones; handling extensions, renewals and exit; ensuring ongoing compliance with data protection, confidentiality, insurance, security, subcontracting and audit rights; maintaining governance, reporting and records; and addressing breaches, claims, liquidated damages, dispute resolution and termination. Usage is broadly consistent across England & Wales, Scotland, Northern Ireland and Ireland. The...

Legal Department Contract Management Process: Drafting Requests, Third-party Review, Risk Assessment, Negotiation, Authorisation and Secure Storage

Published by a LexisNexis Practice Compliance expert

Precedents

This guidance explains how to:

request the legal department to prepare a contract;
forward third party contracts to the legal department for review.

1 Applicability: what is a contract?

A contract is a legal document that outlines a formal agreement between two distinct people, companies, or groups. It creates obligations-both rights and duties-recognised or enforced by law.

Within this, the term ‘contract’ covers: agreements, certificates, terms and conditions, supply agreements, employment terms, professional services agreements, legal clauses, comfort letters, confirmation letters, term sheets, statements of work, Confidentiality agreements and Non-disclosure agreements, deeds, leases, documents, forms, guarantees, licences, novations, offer sheets, waivers, warranties, writs, transfers, renewals, extensions, change notes, change control documents, Variations, and all other forms of ‘small print’ that set out an agreement between [ insert name of organisation ] and one (or more) other party.

Note that a ‘contract’ does not have to bear a signature, and some contracts can be made verbally.

2 I need a contract to be drafted

Please use the [ insert, eg Contract review...

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Web page updated on 26/05/2026

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