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Contract Administrator Job Description Template

Job Description Template

Contract Administrator Job Description Template

June 6, 2023

Contract Administrator Job Description Template

The best way to fill an open position for your business is to have appropriate resources that will help you conduct an easy hiring process. We will assist you throughout this journey by offering you everything you need, starting with this FREE Contract Administrator Job Description Template!

Use this article to acquire essential information about a Contract Administrator and distinguish a perfect individual for your business!

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What is a Contract Administrator?

Contract Administrators are professionals responsible for drawing, reviewing, and managing the company’s contracts, such as rental, purchase, employment, business proposals, and others.

They negotiate contract terms and conditions with business partners, vendors, and supplies and ensure the accuracy and completeness of contracts.

Their job also involves analyzing and minimizing risks involves with specific contract terms, ensuring the contract compliance with the company’s guidelines and state and federal laws and regulations, and implementing standardized language for contract administration.

Related Job Titles for Contract Administrator

The Top Contract Administrator Skills

Skill Why it's important
Contract Management Contract Administrators need to be proficient in contract management. This skill includes the knowledge of various contract terms, conditions, and requirements that help Contract Administrators draft, review, and manage contracts. Good contract management skills also help with ensuring the compliance, completeness, and accuracy of contracts.
Negotiation Superb negotiation skills are essential for Contract Administrators because they help them reach favorable agreements for both parties bound by the contract. They use negotiation to advocate for the company’s needs and requirements, identify important matters, and ensure everyone is satisfied with the final contract outcome.
Legal Knowledge Having a good grasp of legal knowledge related to contracts is essential for Contract Administrators. This knowledge helps them understand the legal principles and regulations, identify potential risks, ensure compliance with relevant laws, and protect the company’s interests. Also, it allows Contract Administrators to recognize contractual obligations and rights.
Analytical Contract Administrators use analytical skills to assess contract documents, review complex information, and make informed decisions. Analytical skills are essential for understanding the significance of contract details, such as technical language, quantitative data, and legal terminology. Analytical skills also help them identify pitfalls and mitigate risks that could affect the company.
Communication The crucial skill for Contract Administrators is communication which helps them interact with business partners and other employees and foster positive and professional relationships. Clear and concise communication enables them to convey important information and expectations, address concerns, and facilitate collaboration.

Contract Administrator Job Description Template (Free)

Our company is hiring a qualified Contract Administrator. Your main job will be to draft, review, and manage the company’s rental, purchase, employment, and other types of contracts and ensure their compliance with state and federal laws and regulations. You will be responsible for verifying the accuracy and completeness of contracts, managing contract changes and terminations, and identifying potential risks.

In addition, you will negotiate contract terms and conditions with business partners, vendors, and suppliers, ensure contract deadlines and conditions are met, and maintain an accurate system of digital and hardcopy records. Ultimately, you will collaborate with other professionals on determining a comprehensive contract strategy and implement standardized contract language and guidelines.

Our ideal Contract Administrator should have an outstanding knowledge of relevant legal matters, as well as exceptional contract management, negotiation, analytical, and communication skills.

Contract Administrator Duties & Responsibilities:

  • Draft, review, and manage the company’s contracts, such as rental, purchase, employment, and business proposals
  • Verify the accuracy and completeness of contracts
  • Negotiate contract terms, conditions, pricing, and payment methods with vendors, suppliers, and business partners
  • Review and manage contract changes, renewals, and terminations
  • Ensure all employees and partners understand and comply with the company’s contracts
  • Analyze and minimize risks involved with specific contract terms
  • Ensure contract conditions and deadlines are met
  • Maintain an accurate and organized system of digital and hardcopy records
  • Collaborate with other professionals to determine a comprehensive contract strategy
  • Design and implement standardized contract language and guidelines
  • Define contract processes conditions and other details with management and business partners
  • Identify and resolve legal and compliance contract discrepancies
  • Coordinate with legal and human resources teams to ensure contracts adhere to state and federal laws and regulations

Contract Administrator Requirements:

  • Bachelor’s degree in business administration, legal studies, business management, or a related field
  • Relevant certification in contract management is preferred
  • Prior working experience as a Contract Administrator or a similar role
  • Ability to interpret and analyze legal and technical documents
  • In-depth knowledge of applicable contract-related laws, requirements, and regulations
  • Exceptional communication and negotiation skills
  • Analytical skills and attention to detail

Accounting Specialist Interview Questrions

Sample Interview Questions for a Contract Administrator

Once you gather up all the received applications, you can use these sample interview questions for Contract Administrator with Scorecard.

Personal
  1. How would you briefly define your character?
  2. What does an ideal workplace look like for you?
  3. If you could change anything about yourself, what would it be?
Human Resources
  1. Why did you apply for a job in this company in particular?
  2. What skills or qualifications make you the perfect individual for our new Contract Administrator?
  3. Could you tell us about the latest job you had that involved contract management?
Management
  1. Could you briefly explain your approach to contract negotiation?
  2. Could you tell us about the time when you identified a compliance issue and successfully resolved it?
  3. How do you build and foster relationships with external clients and business partners?
Technical Skills and Knowledge
  1. What is your applicable knowledge of specific contract management software tools?
  2. What methods do you use to review and ensure the accuracy of contracts?
  3. What is the most important law that should be followed when handling contracts?

What are the Educational Requirements for a Contract Administrator?

Contact Administrators usually need a Bachelor’s degree in legal studies, business management, contract management, or a similar field.

Additionally, some community colleges and vocational school offer certification programs focused on contract management.

These programs cover topics such as contract law, negotiation techniques, and contract administration practices.

Credentials that prospective candidates can acquire include Certified Contract Management Associate, Certified Professional Contract Manager, and Certified Commercial Contract Manager.

How Much to Pay a Contract Administrator when Hiring

Contract Administrators earn between $28,800 and $105,000 per year.

Their median annual salary is $71,398.

Hourly rates range from $15 to $50.

The median hourly rate is $34.

Percentile 10% 25% 50%
(Median)
75% 90%
Hourly Wage $15 $25 $34 $41 $50
Annual Wage $28,800 $52,000 $71,398 $85,000 $105,000

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Frequently Asked Questions about Contract Administrator

 

What do Contract Administrators do?

Contract Administrators help companies manage and organize their contracts associated with rental, employment, purchase, and business proposals.

They draft, review, and analyze contract terms and conditions, negotiate with vendors and business suppliers, identify and mitigate risks, and maintain accurate records of digital and hardcopy documentation.

Who do Contract Administrators report to?

Contract Administrators may report to different superiors based on the type of company and organizational structure.

Mostly, they report to the Contract Supervisor, Contract Manager, or in some cases, to a Legal Counselor.

What skills are necessary for Contract Administrators?

Contract Administrators must have an outstanding knowledge of current legal best practices and state and federal laws and regulations.

Also, they must have excellent negotiation, communication, analytical, attention to detail, and contract management skills.

What are the educational requirements for Contract Administrators?

Contract Administrators typically acquire a Bachelor’s degree in contract management, business management, legal studies, or a related field.

Similar Job Descriptions as Contract Administrator

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