Pramata Knowledge Solutions Contract Analyst Interview Questions, Process, and Tips

Contracts are required to be registered when they involve a significant amount of money or property.

• Contracts involving real estate

• Contracts involving large sums of money

• Contracts involving intellectual property

• Contracts involving government agencies

• Contracts involving international parties

Commercial contracts are legally binding agreements between businesses for the exchange of goods, services, or property.

• Sales contracts: agreements for the sale of goods or services

• Lease agreements: contracts for renting or leasing property

• Distribution agreements: contracts between manufacturers and distributors

• Supply agreements: contracts for the supply of goods or materials

• Service agreements: contracts for the provis...read more

General clauses that occur in most contracts

• Termination clause

• Indemnification clause

• Confidentiality clause

• Governing law clause

• Force majeure clause

• Assignment clause

• Severability clause

• Entire agreement clause

• Amendment clause

General principles of contract include offer, acceptance, consideration, capacity, legality, and intention to create legal relations.

• Offer: one party proposes terms to another

• Acceptance: the other party agrees to the terms

• Consideration: both parties exchange something of value

• Capacity: both parties must have legal capacity to enter into a contract

• Legality: the contract must not violate any laws

• Intention to create legal...read more

JD stands for Job Description. It outlines the duties, responsibilities, and qualifications required for a particular job.

• JD is a document that describes the job role and responsibilities.

• It includes the required qualifications, skills, and experience for the job.

• JD helps in recruiting the right candidate for the job.

• It also helps in setting performance expectations and evaluating employee performance.

• Example: A JD for...read more

NDA/Confidentiality Agreement is a legal contract that restricts the disclosure of confidential information.

• It is a legal document that outlines the terms and conditions of sharing confidential information between parties.

• It is used to protect sensitive information from being disclosed to unauthorized parties.

• It can be mutual or one-sided, depending on the parties involved.

• Examples include employee NDAs, business partn...read more

Elements of a contract include offer, acceptance, consideration, capacity, legality, and intention to create legal relations.

• Offer: a proposal made by one party to another

• Acceptance: agreement to the terms of the offer

• Consideration: something of value exchanged between the parties

• Capacity: legal ability to enter into a contract

• Legality: the contract must not violate any laws

• Intention to create legal relations: both par...read more

SLA stands for Service Level Agreement, MSA stands for Master Service Agreement, and SAAS stands for Software as a Service.

• SLA is a contract between a service provider and a customer that outlines the level of service expected.

• MSA is a broader agreement that outlines the terms and conditions of a business relationship between two parties.

• SAAS is a software delivery model where software is hosted on a cloud and accessed...read more