The Contract Owner's Role
- Budgeting / Planning ahead of time for new and renewing contracts, programs, or services
- Finding the service providers or external parties from whom the College may seek to purchase goods or services, or with whom the College may otherwise enter into a contractual relationship
- Ensuring the accuracy of the written description of exchanges, services, equipment, materials, costs, and dates in the written agreement
- Liaising between Contract Review Team and the external party to negotiate contract terms
- Assessing any outstanding risks in collaboration with Contract Review Team and Signatory
- Providing the 'final draft' agreement to the College Signatory for their review and signature
Does a similar service already exist?
- Before negotiating the contract with a new vendor, it may save time and costs to check with IT or colleagues to see if a similar service already exists.
Selecting/Evaluating a vendor
- Consider consulting with Procurement, IT, Legal, or Risk Management for advance guidance about acceptable standards for insurance, data security, payment processing systems, or other concerns you may have.