A contract specialist is one who is in charge of all the contracts that the company enters into with others. A contract specialist job duties are of high importance for a company as all the legal matters related to the agreements with third parties is handled by this candidate. The candidate should have excellent oral and written communication skills apart from having good legal research capabilities.
Contract Specialist Job Duties
- Solicit the various contracts entered into by the company with third parties.
- Checking the terms of all the contracts, evaluating every clause and negotiating them on behalf of the company with outside parties.
- Ensure to close the contracts with other companies in an amicable and successful manner.
- Evaluate the functioning and issues related to pre-existing and functional contracts of the company and make suitable modifications as may be necessary.
- Interpret the various terms specified in the contract and evaluate the implications of each and every clause in order to protect the interests of the company.
- Verify and cross-check the credentials of the contract documents submitted by the third parties both physically and electronically in order to avert all kinds of fraud.
- Ensure that all the terms of the contract entered into by the company with third part complies with the statutory regulations and policy followed by the company as well.
- The candidate is also required to draft all the contracts on behalf of the company for all the services and agreements entered into with third parties.
- The candidate also has the duty of evaluating all the claims and legal complaints against the company and tries to resolve them in the best possible way within the shortest possible time.
- Initiate all the legal proceedings on behalf of the company in legal issues that cannot be resolved amicably out of court.