Contracts Administrator Job Profile and Description
Companies that have a wide exposure with 3rd party businesses covered with contracted deals employ a team of Contracts Administrators typically working in legal or commercial relations departments. They are tasked with ensuring that the contracts that have been cleared by the legal department and executed with eternal parties are enforced to the letter. They are often the first persons management refers to in cases of allege contractual breaches. Based on their recommendations, the legal department steps in to effect an amicable or legal solution.
Contracts Administrator Duties and Responsibilities
- Review current contracts that are subject to possible legal question before a civil court.
- Recommend revision of contracts based on changes in business, government regulations, environmental laws or financial situations.
- Provide recommendations on contract renewals, modifications and cancellations.
- Coordinate with the legal department on propriety of corporate responses to issues arising from contractual obligations.
- Provide alerts to concerned departments in their contracts for compliance requirements on either side
Contracts Administrator Skills and Specifications
- Strong knowledge in legal statutes government obligations and contracts.
- Strong interpersonal, diplomatic and negotiation skills
- Strong communication skills
- Excellent computer literacy with strong command of Spreadsheets.
Contracts Administrator Education and Qualifications
- A BS pre-law degree is basic but some companies, depending on the nature of their business, may required full law degrees.
- An MBA degree is an advantage
- Previous experience in a similar contracts administration role is preferred
Contracts Administrator Salary
The salary of a Contracts Administrator or Manager varies depending on the business or industry, the value or nature of contracts, and the state. In general, though, the median annual salary in 2008 was $73,500 with the middle 50% spread earning between $52,200 and $90,000. The highest 10% received about $129,800 while the lowest 10% got around $37,400. Private management companies provided the highest median at $85,000 while the state offered the lowest at a median of $65,700.
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