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The following article was originally published on Noha-Z, LLC website http://www.nohaz.co/en/wiki under the same title.

Contractual legal language and design are going through a metamorphosis in a manner comparable to automated text and knowledge representation (TKR)-AI communities in (at least) early 1980s-early 2000. The efforts, in both AI and the contractual legal industry, can be summarized in one question, "how to bridge a gap or draw a balance between expressivity, efficiency and transparency?"

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Our worldwide business environment is accelerating which means contract negotiations are becoming increasingly important for the telecommunications industry. We cannot afford the costly, time-consuming procurement processes of the past. Can we change that? How? Where do we start? This article suggests how model contracts might speed up procurement processes.

Contract models telecommunications standardization

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In one of its recent decisions, the Supreme Court of India has clarified that accepting an offer with a condition is no acceptance at all -- it is a counter-proposal. A counter-proposal made while accepting an offer must be accepted by the original proposer to conclude a contract. Until that happens the parties must not assume that a concluded contract1 exists. So, until there is a concluded contract, no question of any breach would arise, but often parties accepting offers with counter-proposals do not realize that.

clause BUYER/SELLER CONDITIONAL OFFERS COURT DECISIONS ABSOLUTE ACCEPTANCE RFP PURCHASE

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Service Level Agreements (SLAs) are about driving good outcomes and good behaviors, not making money. But when improperly processed, SLAs will lead to bad outcomes! So this begs the question: is it ethical to insist on the letter of the contract, even if the spirit of the contract may conflict with it? Put another way, should we insist on penalizing non-performance when the mutual outcome should be improved performance? Be sure to check-out our new Business Ethics Program at Business Ethics (worldcc.com).

SERVICE LEVEL AGREEMENTS BUSINESS ETHICS CONTRACT PERFORMANCE

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It’s likely that your organization is going digital because it is necessary for its survival. Unfortunately, the one big mistake that many companies make is assuming that digital transformation is just another ‘add on’ to existing operations. In fact, it’s more about leveraging digital technology to make strategic improvements across an organisation.1 So it’s important that you understand why digital transformation is relevant for your entire enterprise and that you know how to leverage it. This article describes the author’s own experiences - what worked and what didn’t.

technology DIGITIZED CONTRACTING DIGITAL TRANSFORMATION

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A recent survey by the Institute for Supply Management1 revealed that 97 percent of companies representing more than 600 procurement professionals have suffered some sort of supply chain disruption to their organizations due to the coronavirus (COVID-19) pandemic. In procurement, our suppliers are as important as we are. Therefore, what steps can we take? How might we improve our perspective of managing supplier relationships and preventing risk exposures?

Covid-19 SUPPLY CHAIN ASSESSMENT SUPPLIER RELATIONSHIPS DISRUPTION PREVENTION RISK MITIGATION

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Everyone wants to be authentic. It is the key to building a fulfilling and rewarding life. Authenticity means being truly present and connected to people and experiences in a way that is meaningful to your life. It is a commitment we make to ourselves and a quality we look for in others. It is found at the root of confidence and passion, which grows into trust and respect. Yes, we want to be authentic, but it takes immense courage to practice. This article outlines where to start, reveals what living authentically can offer you, and, hopefully, provides some encouragement in the face of challenge.

gender equality self worth resilience

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We can define a performance-based contract (PBC) and a relational contract easily enough, but do we know how to maximize the benefits these unconventional contracts offer us? And, are the improved supply chains and the new “hybrid” contract leading us into favorable results for 2021? How did this success story begin?

COMMERCIAL PRACTICES BUYER/SELLER TRADING PERFORMANCE BASED CONTRACTS UNCONVENTIONAL CONTRACTS RELATIONSHIPS

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Contract managers who want to take greater control of contracts need a good command of contract language and substance. The first step? Become an informed consumer of contract language, so you understand how to say clearly and concisely whatever you want to say. Next, consider using automated contract review to check, or supplement, your command of contract substance.

artificialintelligence language legalese LAWYER VIEWPOINT CONTRACT REVIEW DRAFTING CONTRACTS

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When culture and Key Performance Indicators (KPIs) drive misconduct in the banking and financial sector, how should we respond? In researching the issue, I discovered that although organizations applaud good corporate governance like transparency and accountability, outcomes are becoming more perverse than honest. Although this article is not intended as an exposé, it does uncover some trends worth eyeing carefully.  Be sure to check-out our new Business Ethics Program at Business Ethics (worldcc.com).

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