This policy establishes guidelines and procedures that must be followed with respect to retention, administration and amendment of vendor contracts in which a company is a party in the contract.

This example applies to any and all current, active templates (“boilerplates”) maintained in the vendor contract library. It focuses on determination of vendor contract template changes, approvals, time frames for the review and approval process, vendor contract template maintenance, and monitoring vendor contract information repository. The policy also includes a list of roles and responsibilities for legal, the CEO, and any independent parties.