Now that you’ve exchanged redlines with your counterparty, it is time to switch to live negotiations via a phone call or virtual meeting. The goal of the contract negotiation call is to close out the remaining open items and move the contract forward towards a final agreement.
How can you run the call as efficiently as possible to achieve this goal? Follow Rule #4 on Running Calls.
Overall, we should strive to exchange redlines as few times as possible between contract initiation and contract execution. The redlining etiquette rule of thumb is to initiate contract negotiations via email, exchange redlines once, then switch to live negotiations to move negotiations forward.
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When it comes to redlining etiquette, Rule #1 is to accompany redlines with explanatory comments. An exception to that rule begets Rule #2 – silent redlines can be a powerful negotiation tool. There is an essential distinction between silence and silent redlines.
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The heart of all contract negotiations lies in between the redlines. In the comments, explanations and questions that accompany the redlines. But not all contract negotiators redline the same way. Some never leave comments with their redlines (rude!), others leave too many (annoying!).
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Redlines tell us something that the original words don’t. When we read between the redlines, they tell us what the other party is thinking, wanting, feeling, reconsidering, ready to reject, or willing to accept. Smart in-house counsel will accompany their substantive redlines with comments.
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