What does a Principal 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.

What responsibilities are common for Principal Contract Specialist jobs?
  • 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
What are the typical qualifications for Principal Contract Specialist jobs?
  • 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
EducationBachelor's Degree
Work/Life Balance
3.5 ★
Salary Range--
Career Opportunity
3.5 ★
Avg. Experience8+ years

Principal Contract Specialist Salaries

There are no current reports for Principal Contract Specialist salaries. You can add additional job titles in your job preferences to see related salary information.

Glassdoor Estimated Salary

Principal Contract Specialist Career Path

Learn how to become a Principal Contract Specialist, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

L5
Principal Contract Specialist
No Salary Reports
L7
Director of Contract
No Salary Reports
L9
L5

Average Years of Experience

0 - 1
0%
2 - 4
0%
5 - 7
44%
8+
56%
Not including years spent in education and/or training
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Principal Contract Specialist Insights

Read what Principal Contract Specialist professionals have to say about their job experiences and view top companies for this career.
Progress ResidentialProgress Residential
Renewal Specialist
16 Feb 2020

“When he was here the morale was high and coming to work was the best.”

Countrywide plcCountrywide plc
Letting Negotiator
13 Nov 2020

“The training was absolutely spot on and I was and still am consistently praised for my efforts.”

Parkland Health & Hospital SystemParkland Health & Hospital System
Contract Negotiator
28 Jan 2022

“Good on your resume because people know working there is the jungle/ wild wild west.”

Leaders Romans GroupLeaders Romans Group
Lettings Negotiator
9 Oct 2020

“Additionally I would recommend to join Leaders as a great career path for anyone within property.”

US Army Corps of EngineersUS Army Corps of Engineers
Contract Specialist
28 Jun 2021

“No matter what you bring to the table your recognition only goes but so far.”

TSPTSP
Monitoring Specialist
11 May 2020

“Friendly employees who made me feel right at home during my first week of hire.”

J. David Tax LawJ. David Tax Law
Contract Specialist
1 Oct 2020

“I can attest to the great leadership I experienced in my 3 years of working at J. David Tax Law.”

Toyota Motor CorporationToyota Motor Corporation
Contract Specialist
24 Mar 2022

“While there are many opportunities to advance within the company the starting pay is atrocious.”

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Principal Contract Specialist Interviews

Frequently asked questions about the role and responsibilities of a Principal Contract Specialist

The most similar professions to Principal Contract Specialist are:
  • Contract Manager
  • Business Developer
  • Business Development Manager
  • Program Manager

The most common qualifications to become a Principal 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.

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Principal Contract Specialist jobs