Contract Review Frequency - Is there a need for Annual Review?

F

Frank W

#1
Is there a required interval in which you are required to perform contract review? For example when in a contract for 5 years with one customer, would you only perform at contract renewal and amendments to the contract or are you required at annual intervals?

Thanks,

Frank W.
 
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bobdoering

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#2
Re: Contract Review Frequency

You only need perform at contract renewal and amendments to the contract. If you get releases, you may have to verify they are correct - especially with lead times, etc.

Remember, print changes, changes in test procedures, etc., may be considered contract changes or amendments, too.

After all, if the contract does not change, there is really nothing to review. :cool:
 

Randy

Super Moderator
#3
Re: Contract Review Frequency

Both of the answers you are searching for are best answered between you and your customer and should be stipulated in the instrument itself.

There are no timeframes for doing anything in ISO 9001....Read it, you won't find it.
 

bobdoering

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#4
Re: Contract Review Frequency

There are no timeframes for doing anything in ISO 9001....Read it, you won't find it.
This is true - and verifying a contract that did not change really does not have a time function.

Now, he didn't mention the standard he was working under. There are timeframes in TS16949, some of which may be buried in customer specific requirements - but they still count. But none for reviewing a contract that did not change.:cool:
 

Randy

Super Moderator
#5
Re: Contract Review Frequency

He was posting here in the 9K thread and his profile shows interest in 14K & 18K and that he's a safety dude....not that it matters.

BTW....Welcome Frank:bigwave:

Are you involved in 9001 as well or is this just a general inquiry?
 

Randy

Super Moderator
#8
Re: Contract Review Frequency

Do I know you?

The contract review or a contract review could be necessary under 7.2.1, but a specific timeframe for it isn't dictated by 9001.

Contract law in your state may require review if change is necessary or the potential for change is identified.
 

harry

Trusted Information Resource
#9
Re: Contract Review Frequency

From the business aspect and against the backdrop of todays volatile economic climate, it is unlikely that people will sign long term contracts with you. If they do, there will be many contingency clauses thrown in. At an appropriate time, such as crude oil price adjustments, certain contingency factors may kick in and it is under these situations that you should review your contract.

A good example are contracts for the construction industry which normally ranged from 1-3 years. Many contracts today incorporate 'price escalation' clauses to protect the interest on the contractor. A baseline cost at the date of signing of agreement is recorded and the contractor is given the right to seek compensation when the cost of the agreed items exceed the baseline figure. You will need to be alert and continuously monitor and scan the market in such situations - in others continuously review.
 
F

Frank W

#10
Re: Contract Review Frequency

Yes you do, hope you wouldn't forget Reston that quick, great class as well as website here!!!! This is my first time on with a ton of infomation here.

Have a good evening.

Doug W.
 
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