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Gatekeeper Contract and Vendor Management Glossary

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

Glossary > C

Contract Lifecycle

A Contract typically passes through the several stages during its lifecycle. These include: 

  1. Inception
  2. Negotiation
  3. Execution
  4. Start-Up
  5. Operation
  6. Renewal
  7. Closeout

Each stage of the lifecycle requires its own set of dedicated activities. 

Contract management software helps businesses to automate, standardise and streamline contracting processes at every stage.