Ever notice that contracts are always drafted in English? Implicit language bias occurs in contracts when the contract drafter assumes the other party is as fluent in English and English “legalese” as the contract drafter. If you’ve ever thought this to yourself, “Wow, their English is surprisingly really good!” then you probably have implicit language bias.
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One major benefit of contract management technology is the ability to collect, track and report on contract metrics such as contract volume, turnaround time, and value. Read this article to learn how to make sure you’re tracking contract KPIs correctly.
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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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While investing in a contract management tool is undoubtedly a step in the right direction, it should not be your first. In fact, there is a lot of work to be done internally that will significantly improve your contract management process without costing you a single dime. And with all the choices out there, this work needs to be done before you can even attempt to identify the right tool for you.
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Force majeure was a popular go-to at the start of the pandemic when the government shut down wedding and event venues and outlawed weddings. But force majeure, alone, is no longer sufficient protection. Wedding Contracts must take into account partial performance.
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Incoterms are a pre-defined global standard for allocating risk of loss, customs clearance, and transit insurance in sale of goods contracts. The International Chamber of Commerce (ICC) established Incoterms in 1936 and updates the definitions every ten years, with the most recent version adopted earlier this year.
Incoterms are an amazing tool for contract drafters to […]
This September, even California employers have to go “back to the books” when hiring and contracting with independent contractors. As if we didn’t have enough change to navigate already, the rules around independent contractors have changed once more. So break out your highlighters and follow along as we walk you through some key updates and […]
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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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Non-Disclosure Agreements (NDAs) frequently contain marking requirements buried in the terms. Failure to comply with such marking requirements can render your client’s confidential information unprotected by the NDA. It is important to evaluate the pros and cons […]
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There is an emergence of a new kind of hero in the contracts space – the Super Lawyer – who can save their clients from expired contracts, stacks of paper, pricey auto-renewals, delayed reviews, and contract leakage. Studies show that automating your contract review process can save your company between 6.2-12.4% […]
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DO THIS
Reject clauses that do not help make the contract clear and concise.
NOT THAT
Include clauses just because you have always included them.
WHY?
