Quick Answer: What Is The Average Salary Of A Contract Administrator?

What are the duties of a contract administrator?

Contract AdministratorOversee the preparation and revision of contracts that involve the purchase of sale of goods and services.Handle the acquisition, distribution, and store of equipment and supplies.Dispose of unclaimed property.Oversee proposal planning and administration of contracts.Negotiate terms and conditions.More items….

Who is responsible for contract administration?

The bulk of contract administration (overseeing performance) responsibility should be with the entity that is closest to where the contract is executed, because it is there that the opportunity exists for early detection of any breach of contract or substandard performance of goods received or services rendered.

Who can be contract administrator?

The contract administrator may be the project architect, but could also be the lead consultant, the cost consultant, a specialist consultant, a client representative or employer’s agent, the project manager or an engineer.

What are the contract responsibilities?

Contractual obligations are those duties that both employers and employees are legally responsible for in a contract agreement. It is important that both parties follow their sides of the contract.

What does a contract specialist do in the government?

Contract Specialists execute and administer contracts for the procurement of supplies, services, construction, or research and development.

What is the difference between contract administration and contract management?

Contract administration is concerned with the state of the agreement between the two parties in the period before the contract has been finalized. Contract management is focused on the implementation of the contract after it has been finalized.

How much do contract administrators make?

An early career Contract Administrator with 1-4 years of experience earns an average total compensation of $56,378 based on 1,530 salaries. A mid-career Contract Administrator with 5-9 years of experience earns an average total compensation of $64,837 based on 926 salaries.

Is a contract administrator a good job?

Overall, the most successful Contract Administrators have a strong knowledge of business financial best practices, an understanding of contract law, and possess a strong attention to detail. They must also be skilled communicators and have excellent negotiation skills.

What makes a good contract administrator?

The overall requirements of a contract administrator generally include the following: Attention to detail and the ability to spot errors and inconsistencies. Excellent reading and language comprehension. Ability to work with a team at all levels of an organization.

What does contract administration include?

What is Contract Administration? The professionals responsible for a company’s contract administration focus their work on the planning and execution of contracts. The planning process often includes sourcing potential contracting partners, for example via sending out requests for proposal.

What are the duties of a contract specialist?

Contract Specialists draft and review contractual agreements between a company and suppliers of products or services. These specialists practice an expert profession that can be found in theaters, businesses, and nonprofits. Duties include evaluating bids, preparing contracts, and negotiating terms.

What qualifications do I need to be a contract administrator?

Most employers will look for a college diploma, a university degree, or an equivalent qualification. Thus, a Certificate IV in Building and Construction (Contract Administration) is an ideal qualification that will give you the skills you need and widen your knowledge base in contract administration.

What degree do you need to be a contract specialist?

While many employers require a bachelor’s degree in business administration or a related field, some entry-level contract specialist jobs only require a year of college business courses. Those employers may provide on-the-job training to give you the rest of the skills you need.

How much do procurement specialists make?

How much does a Procurement Specialist make in the United States? The average Procurement Specialist salary in the United States is $55,820 as of November 25, 2020, but the salary range typically falls between $46,199 and $72,925.

What does a contract coordinator do?

What Do Contract Coordinators Do? Manage existing contracts, ensuring that money, services and goods are received on time. Modify, update, and maintain contracts and associated documentation, processing, and communicating changes. … Produce quotes and estimates for potential new contracts.

What is the average salary for a contract specialist?

An early career Contract Specialist with 1-4 years of experience earns an average total compensation of $58,617 based on 1,214 salaries. A mid-career Contract Specialist with 5-9 years of experience earns an average total compensation of $67,683 based on 688 salaries.

Can the employer be the contract administrator?

In principle, there is nothing to stop parties agreeing that the contract administrator should be an employee of the client/employer. In theory the employer itself could act as contract administrator but this is unusual and potentially fraught with difficulty.

What is contract administrator in construction?

In the construction industry, the Contract Administrator (CA) is the individual responsible for administering the construction standard contracts. The CA could be a project architect or a construction manager or any consultant assigned by the client.