The contract handling method and system of the present invention permits contract owners to handle execution of contracts. Contracts and statements of work (SOW) are created in a document assembler using model agreements, alternate clauses, and supplemental provisions. A tracker tool notifies the owner of a master contract whenever a SOW is issued against the master agreement. Expiration dates are tracked and reminders sent via e-mail to contract and SOW owners as specified. A participation agreement can be entered and issued once a master contract is executed. The master contract owner is prevented from closing a master contract until all applicable SOW's are also closed.