oboloo

oboloo Glossary

Contract Compliance

oboloo Glossary

Contract Compliance

Contract Compliance

Contract compliance is the process of making sure that all parties involved in a contract are adhering to its terms. This can include ensuring that payments are being made on time, that work is being completed as agreed upon, and that any other requirements laid out in the contract are being met.

It’s important to have someone overseeing contract compliance, as it can help avoid potential disputes between parties and help ensure that all contractual obligations are being met. If there are issues with contract compliance, they can be addressed early on before they become bigger problems.

An organization or individual responsible for contract compliance will typically monitor adherence to the contract’s terms and conditions, track milestones, and review invoices and other documentation to make sure everything is in order. They may also conduct audits or site visits to check on progress and make sure that work is being carried out according to the agreement.

If you’re responsible for contract compliance, it’s important to stay organized and keep detailed records. This will help you spot any problems early on and address them quickly. It’s also a good idea to have regular communication with all parties involved in the contract to ensure everyone is aware of their obligations and knows what is expected of them.

Want to find out more about procurement?

Access more blogs, articles and FAQ's relating to procurement

Oboloo transparent

The smarter way to have full visibility & control of your suppliers

Contact

Feel free to contact us here. Our support team will get back to you as soon as possible

Oboloo transparent

The smarter way to have full visibility & control of your suppliers

Contact

Feel free to contact us here. Our support team will get back to you as soon as possible

© 2024 oboloo Limited. All rights reserved. Republication or redistribution of oboloo content, including by framing or similar means, is prohibited without the prior written consent of oboloo Limited. oboloo, Be Supplier Smart and the oboloo logo are registered trademarks of oboloo Limited and its affiliated companies. Trademark numbers: UK00003466421 & UK00003575938 Company Number 12420854. ICO Reference Number: ZA764971