The Contract Risk Management Policy serves as a crucial governance document for organizations operating under English and Welsh jurisdiction. It is implemented when an organization needs to establish systematic approaches to identifying, assessing, and managing contractual risks across its operations. The policy encompasses risk assessment methodologies, control measures, reporting structures, and compliance requirements, providing a comprehensive framework for managing contractual relationships. This document is particularly important in the current business environment where organizations face increasing regulatory scrutiny and complex contractual obligations.
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1. Purpose and Scope: Defines the objectives of the policy and its application across the organization
2. Definitions: Key terms and concepts used throughout the policy
3. Roles and Responsibilities: Defines who is responsible for various aspects of contract risk management
4. Risk Assessment Framework: Methodology for identifying, assessing, and categorizing contract risks
5. Risk Control Measures: Standard procedures and controls for managing identified risks
6. Monitoring and Review: Procedures for ongoing monitoring and periodic review of contract risks
7. Reporting Requirements: Structure and frequency of risk reporting
1. Industry-Specific Considerations: Additional requirements for specific sectors - use when organization operates in regulated industries
2. International Operations: Additional considerations for cross-border contracts - use when organization operates internationally
3. Emergency Procedures: Special procedures for high-risk situations - use when dealing with critical contracts or high-risk activities
1. Risk Assessment Templates: Standard forms for risk assessment and documentation
2. Risk Categories Matrix: Detailed breakdown of risk categories and their characteristics
3. Approval Authority Matrix: Delegation of authority for different risk levels
4. Reporting Templates: Standard formats for risk reporting
5. Control Checklist: Standard checklist for risk control measures
6. Regulatory Requirements Reference: Summary of applicable regulatory requirements
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