In India, managing contracts with compliance is challenging because each state has its own stamping requirements. Due to the laborious and time-consuming nature of contract execution, non-compliance and operational issues are a problem that affects businesses, professionals, and individuals alike. Contract violations may result in fines of up to 10 times the contract’s or stamp’s actual worth. As a result, it is crucial and necessary to do this assignment.

According to market analysts, inadequate contract governance may cause losses of up to 40% of a contract’s value. Additionally, contract management can shorten negotiation cycles by 50%, lower the likelihood of fraudulent payments by 75–90%, and save operational and processing expenses by 10–30%.