SayPro Contract Review Checklist Template

SayPro Templates to Use: Contract Review Checklist Template

Contract Title: [Contract Name]

• Review Date: [Date of Review]
  This section records the date when the contract review was completed.
• Compliance with Laws and Regulations: [Yes/No]
  Indicate whether the contract is in compliance with applicable laws and regulations.
  • List applicable laws and regulations:
    • Example: Local Government Procurement Act, 2021, Industry Standard Safety Regulations, International Trade Compliance Standards, etc.
• Key Terms and Conditions Review:
  List major terms to review, such as:
  • Payment Terms: [Standard Payment, Milestone-Based, etc.]
  • Delivery Schedules: [As per the contract, adjusted to operational needs]
  • Intellectual Property Rights: [Ownership, licensing rights, etc.]
  • Termination Clauses: [Under what conditions can the contract be terminated?]
  • Performance Guarantees: [Any obligations, warranties, penalties tied to performance.]
• Dispute Resolution Mechanism: [Included/Not Included]
  Note if the contract has provisions for resolving disputes and whether they are satisfactory.
  • Example: Mediation followed by binding arbitration in case of unresolved issues.
  • If not included, recommend the appropriate dispute resolution process.
• Risk Assessment: [High/Medium/Low]
  Evaluate the level of risk associated with the contract based on the terms and the involved parties.
  • High Risk: Significant financial liabilities, uncertain clauses, legal complexity.
  • Medium Risk: Moderate risks with some uncertainty or minor operational complexities.
  • Low Risk: Standard terms, predictable parties, low potential for disputes.
• Recommended Revisions: [Yes/No]
  Specify whether any revisions to the contract are necessary and provide brief details on what needs to be changed.
  • Example: Yes, add a clause to clarify payment deadlines; include an arbitration clause for disputes.
• Approval Status: [Approved/Pending/Rejected]
  Final status of the contract after review.
  • Approved: All terms are satisfactory and compliant.
  • Pending: Additional revisions are required before approval.
  • Rejected: Contract is not acceptable as it stands and needs significant revisions or should be abandoned.

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SayPro Monthly January SCMR-1 – SayPro Monthly Contract Review

Objective:
Review contracts for legal accuracy and compliance as per the SayPro Tenders, Bidding, Quotations, and Proposals Office under SayPro Marketing Royalty SCMR. This ensures that all contracts meet the required legal standards and operational guidelines.

1. Contract Review Focus:
   • Legal Accuracy: Ensure the contract is legally sound and follows all applicable laws and industry standards.
   • Compliance: Verify that the terms of the contract comply with SayPro’s internal policies, as well as external laws and regulations.
   • Financial Impact: Assess financial terms to ensure they align with budget constraints and expected returns.
   • Operational Feasibility: Review the practical aspects of contract implementation, including timelines, resources, and deliverables.
2. Types of Contracts to Be Reviewed:
   • Tenders, Bidding Documents, and Quotations related to procurement and external partnerships.
   • Proposals for new collaborations, clients, or projects requiring contract commitments.
   • Marketing Royalties contracts that detail compensation, usage, and distribution rights.
3. Review Process:
   • Initial Contract Evaluation: Thoroughly assess the terms outlined in the contract document.
   • Risk Mitigation Review: Identify any clauses that might expose SayPro to undue risk, especially in financial, legal, or operational contexts.
   • Compliance Cross-Check: Compare each contract term against local and international laws, industry regulations, and SayPro’s corporate policies.
   • Stakeholder Collaboration: Consult with relevant departments (Finance, Legal, Operations, etc.) to ensure the contract aligns with company needs and strategic goals.
4. Post-Review Steps:
   • Internal Approval: Obtain sign-offs from the necessary departments.
   • Revision Requests: If needed, provide feedback and revision requests to the contracting party.
   • Finalization and Execution: Once all revisions are agreed upon, proceed with signing the contract and commencing the associated operations.