Contract Risk Monitoring
In business, a contract is an agreement between two or more parties to do something. Contract risk is the possibility that one or more of the parties will not be able to fulfill their obligations under the contract.
There are many ways to monitor contract risk. One way is to have a dedicated team that reviews contracts and identifies risks. Another way is to use software that can help identify risks in contracts.
When monitoring contract risk, it is important to consider the following:
– The type of contract
– The parties involved in the contract
– The amount of money involved in the contract
– The length of the contract
– The jurisdiction in which the contract will be performed
– Any changes to the contract during its performance