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Your reports should cover contract status, due dates, compliance or noncompliance, unexpected costs, delayed project timelines, and other important milestones.

Articles and sections in contracts Almost invariably, the body text of an agreement is subdivided into articles, sections, subsections and other enumerated clauses. In large agreements, the articles are sometimes grouped in chapters.

We have discussed the first three stages of contract lifecycle management: contract request, contract authoring, and contract approval. The fourth stage of contract lifecycle management is contract execution.

A contract report is a procurement document that provides an overview of all the contracts that have been awarded by a company. It includes information on the contractors, the value of the contract, the terms of the agreement, and any other relevant details.

Effective contract management reporting allows companies to identify and analyze opportunities, as well as problems, in the way they create, negotiate, approve, execute, and manage contracts. Merely gathering information about the contracting process and contract performance isn't enough.

It is also commonly referred to as Contract Lifecycle Management (CLM). Examples of contract lifecycle management processes include generating contract terms, redlining, approval of any modifications to the contract terms, and e-signature capabilities.

Contract lines. The agreements associated with each contract are specified via contract lines. A contract line is always linked to one specific property. Contracts on the other hand can apply to one or several properties. As a contract can contain several contract lines, it can be linked to several properties.

The six stages of a contract lifecycle are: Contract creation. Negotiation and collaboration. Review and approval. Administration and execution. Ongoing management and renewal. Reporting and tracking.