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Gatekeeper Contract and Vendor Management Glossary

Search common contracting language and take a deeper dive to discover what each means

Breach of Contract

A breach of contract is a failure by a Party to a Contract to comply with one or more Conditions of the Contract.

A Breach of Contract happens when agreed obligations aren't fulfilled. 

A common Breach of Contract is the failure to make payments as stipulated by the contract. 

There are many types of breaches and any of them may Void the Contract and can lead to Damages being awarded against the breaching Party.

Effectively tracking obligations through contract management software such as Gatekeeper helps to minimise the risk of breach. 

The Risk Module from Gatekeeper allows you to measure third-party risk and set a Risk Score based on 'Probability’ and ‘Impact’ variables. 

This Risk Score automatically trigger our Kanban Visual Workflow Engine so you can minimise contract breaches and manage escalations.