Gatekeeper Contract and Vendor Management Glossary

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

Unmanaged Contract

An Unmanaged Contract is any agreement that doesn't meet an organisation's criteria for being actively managed over its lifecycle.

An unmanaged contract can lead to multiple risks for your organisation. If there is a lack of contract ownership, for example, you won't know if: 

  • All parties involved in the agreements are complying with required regulations
  • If the contract is delivering the expected outcomes and if maximum benefits are being realised
  • When the contract is due to expire or if it will auto-renew

Effective contract management is a result of clear ownership, keeping teams accountable for contract outcomes.