Contract Administration Law and Legal Definition
Contract administration is the management of contracts made with customers, vendors, partners, or employees. It refers to the management of all actions after the award of a contract. This is to assure that terms of a contract are complied with. For example, timely delivery, acceptance, payment, and closing contract. Contract administration includes all dealings between parties to a contract from the time a contract is awarded until the work has been completed and accepted or the contract terminated, payment has been made, and disputes have been resolved.
Major objective of contract administration is obtaining supplies and services of required quantity, within a required time and budget. Contract administration is an alternative term for contract management.
