Contract Management Tracking Spreadsheet Template
CobbleStone Contract Management
Starter Tracking Spreadsheet Template
CobbleStone Systems is dedicated to the success of our customers and their contract management needs. Below is a complimentary and free contract management tracking spreadsheet to be used as a starter spreadsheet. Why do we provide this? If your organization cannot afford a contract management software tool such as Contract Insight ™, at least use this free starter spreadsheet.Contract-Management-Tracking-Spreadsheet-Template.xlsx Contract-Management-Tracking-Spreadsheet-Template.csv
Contract Tracking Spreadsheet Field Definitions:
Counterparty Name- The other party to the contract. Some examples include vendors, suppliers, customers, clients, partners, etc.
Counterparty Street Address – The street address of the counterparty. It is recommended to use the legal notice address from the contract.
Counterparty City – The city of the counterparty. It is recommended to use the legal notice address from the contract.
Counterparty State – The state/province of the counterparty. It is recommended to use the legal notice address from the contract.
Counterparty Postal Code – The postal/zip code of the counterparty. It is recommended to use the legal notice address from the contract.
Contract Title/Name- A short title for the contract used for quick and easy reference. For example, when your organization has a new master services agreement they may title it with a format of “counterparty - type of agreement – date”. For example, “CobbleStone – MSA - 20170604”. This could save time and effort later when searching for contracts.
Contract Effective Date – The start date of the contract term. This could be the date the contract is fully executed, or the effective date may be defined in the agreement.
Contract Expiration Date - The ending or closing date of a contract term. This date could be clearly stated in the contract or it may be derived based on the effective date and the term.
Notify Days to Cancel/Review – This column should be used to set a number of days prior to the contract expiration to review the agreement. Auto-renew and cancellation terms should be taken into account when establishing the Notify Days to Cancel/Review.
Next Contract Review Date- This date can be established for any additional reviews needed of the contract record prior or after the Notify Days to Cancel/Review.
Contract Amount- The total contracted amount or value of the contract. Adding columns to track the annual amounts may be helpful. Any currency is supported.
Internal Legal Contact/Employee- The responsible individual of the contract. If any questions were to arise about this contract, you would ask this person. Who is accountable for monitoring deliverables, payments, performance, renewals and/or cancellations?
Department – What department is responsible for the contract? When running annual budget reports, what department/division should be referenced for the contract? While your organization’s procurement team may have obtained a vendor and established the contract, the Information Technology department may be responsible for the ongoing contract administration and budgeting. More than one department can be assigned.
Notes – A general note taking section for this contract. This is a great area to call out key negotiation points. For example, if some contract clauses deviate from your organization’s standard language, note that here. The notes section will help when reviewing contracts down the road.
Limitation of Liabilities – A provision/clause in a contract that limits the amount of exposure a company faces in the event of a lawsuit being filed or a claim is made. If applicable, the limitation of liability can limit the amount of damage a company is exposed to. Leave this blank if your standard LOL clause is used. If the contract uses a non-standard LOL clause, copy and paste here.
Confidentiality- Information that is being kept secret of private between the parties. For example, when negotiating an agreement, a counterparty may request some security guidelines that your organization abides by. This may not be something you normally share so you may have them sign an NDA. You could track that they signed an NDA regarding not sharing your company’s security policies here. Leave this blank if your standard confidentiality clause is used. If the contract uses a non-standard clause, copy and paste here.
Assignability – A provision permitting the contract holder to convey their rights, obligations and/or duties to another party and what they can assign. This section can be particularly important in industries with higher merger and acquisition rates.
Status- This field can identify the current state of the contract. Contract Statuses can be very broad, such as Pending, Active or Closed, or Contract Statuses can be more granular, such as Legal Review, Finance Review, Out for Signature.
Type of Agreement- The legal form type of a contract. Some examples of contract types can be as follows: Master Services Agreement, Non-Disclosure Agreement, Purchasing Agreement, Amendment, Consulting Agreement, etc.
Renewal Notes- If applicable to the contract, this section would track the notes and comments associated with a contracts renewal. For example, your organization may enter into a purchasing agreement with a 10 annual renewals. Each year the contract renews, a form must be completed as well as other deliverables. Describe the requirements/expectations in the Renewal Notes field.
Are you in need of automated contract alerts, advanced features and interested in tracking additional details about your contracts that are not listed above? Contact a CobbleStone representative today to learn more about contract lifecycle management best practices, and how we can help your organization save money, close deals faster, increase revenues, and streamline your entire contracting process. Our resources have been supporting the legal, procurement, finance and sales teams of small, medium and large organizations for over 20 years.
Call us today at 1-866-330-0056.