Suggestion: Why do we not have a central location for contracts? When looking for contracts, we are told to ask If Corporate Planning has it, if Procurement has it or the department has it. Sometimes no one is able to provide the contract or verify if that is actually the most current. Some contracts have a continuation clause that if nothing is reviewed and discussed, the contract continues. Are we missing opportunities for cost savings or keeping costs from automatically rising? Some contracts may have a clause that locks us in to another year.
Response: Our Legal Review Policy [SOP-0282] requires all signed agreements to be filed with Corporate Planning Department. The Corporate Planning Department has the responsibility to maintain the original document. Currently the Corporate Planning Department scans each contract and electronically files it. The originating department should maintain their own electronic copy for their review and reference. It is important for every department to follow the existing policy and to obtain proper legal review and a record of every company agreement. Many older contracts in storage are in the process of being scanned and electronically stored.