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Locate and read an article on contracts. Based on your reading of the article, post a comment on why it is important for a procurement manager to understand contract formation.

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The expert posts why it is important for a procurement manager to understand contract formations. Articles on contracts are located.

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http://www.girlsguidetopm.com/2011/01/the-value-of-contract-management-fundamentals-for-every-project-manager/
http://smallbusiness.findlaw.com/business-contracts-forms/contract-law.html

Locate and read an article on contracts. Based on your reading of the article, post a comment on why it is important for a procurement manager to understand contract formation.

The importance of understanding contract formation by procurement management can't be overstated as this is paramount for the contract to be effectively carried out and adhered to by all parties to the contract. The basic understanding of contract formation by the procurement manager will ensure that the manager has a concise understanding as to what roles and responsibilities that both parties to the contract have in regard to their requirements for meeting contractual obligations as well as the consequences for failing to do so. The objective is to ...

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