Proactively ensure contract and regulatory compliance by combining a comprehensive repository with powerful notification and reporting tools.
Like it or not, compliance requirements operate on your business. Compliance requirements can arise from the contract itself or through the application of laws to particular kinds of contracts. Contract Analyst captures compliance requirements so you can track them.
Contract Analyst can track compliance requirements from whatever source. Individual contract clauses are available for tracking, including document references and provision numbers. In this way, you can trace a path from the source to the requirement to the review.
External compliance requirements - statutory, regulatory, or judicial - are captured and monitored. Alerts are available to notify your legal counsel or compliance department of events with compliance implications.
Special requirements that stem from performance or surety bonds have a dedicated screen in Contract Analyst. A lapse in bonding coverage amounts or periods significantly affects the risk profile of a contract and counterparty.
Contact Analyst also stores a record of waivers, exemptions and exceptions. Changes in scope or schedule are easily stored with the contract record. Waivers for non-compliant actions are part of the contract record too, an important data point in the event of litigation.
During the lifecycle of the contract, you can review conduct of the parties for compliance with the requirements. You can conduct compliance reviews as frequently as you like. Data is stored with the contract record.
You can store documentation that is important to compliance with the contract record, even though that documentation is not strictly part of the contract. For example, the actual text of a regulation can be attached to the documents area.
You can count on Contract Analyst to help you manage your compliance tracking needs.