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Contract compliance is the process of making sure that all parties involved in a contract adhere to its terms. This includes reviewing the contract before signing it, as well as monitoring compliance throughout the duration of the agreement.
Contract compliance refers to observance of the norms and procedures outlined in a contract. Often, this involves periodic reviews of an existing contract to determine adherence to compliance mandates and protocols and check for deviations.
How to ensure contract compliance Create a contract policy. ... Use legally compliant templates. ... Develop a dynamic repository. ... Establish a contract workflow. ... Track the right metrics. ... Participate in regular audits. ... Pay attention to compliance changes.
Kids Definition comply. verb. com·?ply k?m-?pl? complied; complying. : to act in agreement with another's wishes or in obedience to a rule.
Contract compliance measures how well your business follows internal and external standards. Each contract you enter will have a set of goals and often checkpoints on the way there.