CONTRACT FILE CHECKLIST
1. Pray before you start any review
2. Carefully review, Negotiate, and understand to ensure contract align with business
interests, legal protections, rather than just being signed off.
3. Don't agree to unrealistic timescales. It can be a RED flag and might just leave your
company exposed.
4. Don't assume that a contract will reflect what you have agreed in PRINCIPLE or oral
discussion. Review the contract without BIASE
Completed By: ___________________________ Department: ___________________________
Contract Number: ________________________ Contract Begin/End Date: _______________
Name of Vendor / Contractor: _______________________________________________________
Contract Manager: (Dept. Head) _____________________________________________________
Contract Management Activities Yes/No/ N/A
BASIC CONTRACT INFORMATION
Parties Involved: Parties are correctly identified (full legal names/addresses/roles). Choose one
Effective Date: Confirm the contract’s start date and duration
Choose one
Contract Type: Identify the type of contract (E.g., Service agreement, SCA, JV).
Governing Law: Verify the jurisdiction and governing law applicable to the contract. Choose one
Language: Ensure the contract is in the correct language & translations are accurate Choose one
Title: Contract Title and Reference Number
Choose one
SCOPE OF WORK (SOW) OR DELIVERABLES N/A
Clear Description: Scope of work or deliverables clearly defined and aligns with biz. Choose one
Performance Standards: Confirm that performance metrics, quality standards, and
Choose one
timelines are specified.
Change Management: Check for provisions addressing changes to the scope of work Choose one
(e.g., change orders, amendments). Choose one
PRICING & PAYMENT TERMS N/A
Invoicing Requirements: Check invoicing procedures N/A
Pricing Structure: Verify the pricing model (Fixed price/cost-plus/time and materials). Choose one
Payment Terms: Confirm payment milestones, due dates, and methods of payment. Choose one
Currency: Ensure the currency is specified and appropriate for the transaction. Choose one
Taxes and Duties: Clarify responsibility for taxes, duties, and other levies. Choose one
Contract Management Activities - Continued
Regulates the contract's operation, its duration, interpretation, transferability and
enforceability. Choose one
Terms of the Agreement
What is been exchanged
Choose one
Cost / Pricing
Timeframe Choose one
Duration
How the agreement is to be terminated
Obligation Choose one
Intellectual Property
Any protection around intellectual property rights, data protection and
Choose one
Confidentiality
Liability Clause
Choose one
The other party's liability
Rights and Remedy Choose one
Fiscal Monitoring
Has a fiscal monitoring plan been developed based on contract specifications or
other applicable fiscal requirements? Details would include but not be limited to
Choose one
payment schedules, progress payments made and/or due, or other payment due
dates, as required under the contract?
Has a plan been developed to do periodic monitoring of contract pricing (PO)? Choose one
Does the contract file have all backup documentation for contractor payment or
Choose one
progress payment and copies of any audits?
Does the contract file have all contractor invoices, information relative to discount
provision for prompt payment, letters pertaining to contract deductions or fee Choose one
adjustments?
Ensure the contract authorized total dollar value has not been exceeded Choose one
Corrective Action Plan
Has a Corrective Action Plan been developed to deal with any contract issues that
might arise between the contractor and TSU? A corrective action plan should
include complete contact information for TSU and the Contractor and establish Choose one
guidelines agreed to by both parties regarding escalation of issues to the next level
of authority, should problems be encountered.
Liquidated Damages
Has liquidated damages been accessed and collected? Choose one
Reporting
Contract Management Activities - Continued
Have periodic reviews been setup within this contract to discuss spend, customer
Choose one
service, pricing issues, billing and invoicing, etc.
Does the contract file have all routine reports required by the contract such as sales
reports, pricing schedules, approval requests, inspection reports and performance Choose one
reports
Contract Close-out
Determine that the contractor has satisfactorily performed all required contractual
Choose one
obligations
Conduct a post contract evaluation and the contract close-out procedures. Ensure
Choose one
process is documented
Does the contract file contain the names and contact information for all major
Choose one
stakeholders in this project?
A “stakeholder” is an individual or department that has had input into the
development of the contract, and who would need to be notified at once should there
be problems, proposed amendments (including cost or price changes), changes in the
Choose one
scope of work or schedule of deliverables, changes to the agreed upon timeline,
decisions to exercise cancellation clause, decision to exercise options to renew and the
like.
Stakeholders would include:
- Departmental Head
- Purchasing Director/Dean
- Purchasing or Contract Specialist Choose one
- Project or Program Manager
- Budget Account Manager
- Contract Manager
- Contract Administrator
Contract Administrator:
Print Name Signature Date
