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5 Best Practices for Preparing a Contract Administration Plan.

Once the ink is dry on the contract you've signed, you still need to actively manage the transaction in order to make sure that it goes off without a hitch. That's what a contract administration plan is for: a formal document that describes how both parties will remain in compliance with the terms of the contract throughout the length of the agreement. In order to maximize the chances of a successful contract and reduce friction and disagreements, your contract administration plan should be as definitive and detailed as possible. Following the five guidelines below will help make your next contract administration plan an excellent one.

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