EDITOR’S NOTE - If you are not using metrics to measure your legal and contracting processes, this article will tell you why this neglect is very shortsighted even though it’s popular with many contract and legal experts. Amber explains how using metrics can replace risk of failure with measurable value to your clients and legal departments. She also spotlights common misconceptions held by too many professionals…
Read More
Topics:
contracting excellence,
contract management,
communication,
IACCM
If your team has been spending many hours brainstorming for days -- trying to create a contract playbook but you’re getting nowhere -- there’s hope. Henal Patel tells how his organization discovered a way to get the job done quickly. You can do this too. Here is what he has learned about the contract playbook design and one tool you might want to use to create your own unique playbook.
Read More
Topics:
contracting excellence,
organization & people,
contract management,
communication,
IACCM
The following commentary is a reprint of an article written by the author for Elevate Services. It posted on that website Feb 12, 2019 and is reprinted here by permission of the author and his firm, Elevate Services.
Read More
Topics:
contract /commercial management,
commercial management,
contracting excellence,
contract management,
communication
Too many organizations in the world still do not have a solid contract management program in place. This often pulls hidden risk into the business -- risk that can be easily avoided. Just becoming aware of this and being willing to take protective measures is an essential first step in the right direction.
Read More
Topics:
contract /commercial management,
contracting excellence,
contract management,
communication
In contracts about complicated services, the hardest terms to draft appear in statements of work. SoWs for large projects demand long lists of duties from the vendor. And usually they’re interwoven with supporting tasks from the customer and its other suppliers, along with countless contingencies, assumptions, and exceptions. Putting all those pieces into an effective contract challenges the best drafters. The result is often hundreds of pages of baffling mess. Yet the path to good drafting is simple: write outcome-driven descriptions. In other words, describe the technology the vendor will create or run or both, and then stop typing.
Read More
Topics:
contracting excellence,
contract management,
communication
We all negotiate throughout our lives. In fact, it’s often hard to get through a day without haggling over a price, discussing the terms of a job offer with an employer, asking for a pay raise from our superior, persuading our colleagues to support a new business proposal…and so on.
Read More
Topics:
contracting excellence,
performance management,
contract management,
communication
A survey conducted by the International Association of Contract and Commercial Management (IACCM) shows that only 1 of 10 agreed that contracts are "easy to understand". And only 17% were satisfied with the agreement process. These numbers are miserable. Why is it so, what are the consequences, and what can we do about it?
Read More
Topics:
contract /commercial management,
contracting excellence,
organization & people,
contract management,
communication
Please note that this article is based upon an analysis of English case law.
Read More
Topics:
contract management,
communication
I just spent over 6 months on and off negotiating a new liability cap into an existing contract for one of our clients -- countless meetings, reports, presentations, approvals and so forth. Now the ink is dry, and I’d be amazed if we ever talk about it again during the remaining term of the contract.
Read More
Topics:
contract management,
communication
MENU
