What is the primary goal of verifying contract requirements in closing contracts?

The primary goal of verifying contract requirements in closing contracts is to ensure all obligations have been fulfilled. This step is critical as it allows both parties to confirm that all terms of the contract have been met before the contract is formally closed. This verification process includes checking that deliverables have been provided, payments have been made, and any specified conditions have been satisfied. It helps to prevent disputes that could arise from unmet obligations and ensures that both parties are clear on their responsibilities and the successful completion of the contract. This step is essential for fostering trust and accountability between the contracting parties and lays the groundwork for possible future collaborations.