What does a Contract Specialist do?
A contract specialist is responsible from every phase of contract development from researching the legal regulations to negotiating the terms and preparing the print document. He or she may collaborate with a legal team or work independently to evaluate bids and draft documents. Contract specialists are also responsible for assisting clients to terminate contracts on favorable terms.
An ideal contract specialist will possess a bachelor's degree or higher in one of numerous possible fields: accounting, business administration, economics, finance, and law to name a few. Certain industries favor candidates with advanced degrees and certifications specific to contract writing, such as the Federal Acquisition Certification in Contracting (FAC-C). Often, contract specialists begin their careers working as paralegals before specializing in contracts. All contract specialists are expected to have a comprehensive knowledge of procurement regulations and legal terminology. Essential skills for this role are excellent command of verbal and written English and a strong attention to detail.
- Prepare contractual agreements using current research methods and a knowledge of a client's needs and ability to fulfill its requirements
- Collaborate with a legal team consisting of lawyers, paralegals, and office staff
- Ensure that the terms of contractual agreements written in language that is legally binding and in accordance with the desires of the client
- Assist clients to fulfill the terms of or to terminate contracts on mutually amicable terms
- Review contract terms and conditions to verify that they are in compliance with company policies and all applicable federal and state regulations
- Clearly explain contract terminology to clients and other interested parties in simple, everyday language
- Self-monitor progress according to the schedule of completion to submit drafts and documents in a timely manner
- Proofread, edit, and fact-check legal documents for accuracy and consistency, according to a style guide if provided by the client
- 2+ years of legal or paralegal experience, preferably working directly with contract law
- 3-level Federal Acquisition Certification in Contracting (FAC-C) preferred
- Knowledge of current and legally-binding contractual language and terminology
- Willingness to work virtually or in an office setting
- Ability to identify, analyze, and suggest solutions for problems, customer complaints, and client concerns
- Excellent interpersonal and communication skills, including an impeccable mastery of the English language
- Clear adherence to company policies and procurement rules and regulations
- Good organization skills and the ability to multitask on several projects simultaneously
- Knowledge of negotiation best practices, both in-person and in written form, that considers cultural norms and the client's best interests
Contract Specialist Salaries near Singapore
Average Base Pay
Contract Specialist Career Path
Learn how to become a Contract Specialist, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Contract Specialist Insights
“My mom was sick last month and I'm very fortunate that she's one of my dependents on our Healthcare”
“It is a great place to work and I am thankful to have gotten the opportunity.”
“Bonus scheme is good but peaks and troughs make it difficult to establish a steady income.”
“The best part is the willingness to embrace new ideas for innovation to make processes better and smoother for everyone.”
“It is well known that if you work for an Academic Institution wages are low.”
“Good on your resume because people know working there is the jungle/ wild wild west.”
“No matter what you bring to the table your recognition only goes but so far.”
“While there are many opportunities to advance within the company the starting pay is atrocious.”
Contract Specialist Interviews
Frequently asked questions about the role and responsibilities of a Contract Specialist
When working as a Contract Specialist, the most common skills you will need to perform your job and for career success are 24 Hour, Negotiation, Highly Organized, Cost Analysis and Responses.
- Contracts Manager
- Business Developer
- Business Development Manager
- Program Manager
The most common qualifications to become a Contract Specialist is a minimum of a Bachelor's Degree and an average of 0 - 1 of experience not including years spent in education and/or training.