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fynk contract management blog

All you need to know about contract management - from drafting to signature. The fynk blog contains all kinds of useful insights to support you along the way.

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Severability Clause: Essential in Every Contract

In a world where legal uncertainties and changing conditions are part of daily life, the severability clause is an indispensable component in contract drafting. This guide traverses the complex terrain of contract law to …

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Felix Scholz

15 min read
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What does 'commencement date' mean?

The commencement date is a pivotal term in contract management that determines when obligations under a contract begin. This guide demystifies the concept, offering clear definitions, the distinction from effective …

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Felix Scholz

8 min read
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Mastering Digital Contract Management: A Comprehensive Guide

In today’s fast-paced business environment, managing contracts efficiently and securely is more important than ever. Digital contract management provides a streamlined, intelligent approach to handling every aspect …

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Felix Scholz

8 min read
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Difference Between Contract and Agreement

In-depth insights into the differences between agreements and contracts – an essential guide for everyone. Learn what is legally binding and how to protect yourself and your interests. With practical examples, key legal …

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Felix Scholz

9 min read
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Freedom of Contract: Comprehensive Guide - Meaning & Examples

Dive into the world of freedom of contract – a principle that forms the foundation for the creation, negotiation, and execution of contracts. In our comprehensive guide, discover how to fully exercise your rights while …

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Felix Scholz

10 min read
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Understanding Wet Signatures: Meaning, Importance and Evolution

Wet signatures remind us of the personal connections and trust that form the foundation of many of our interactions. As we embrace digital advancements, let’s not forget the value of a personal touch. Whether …

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Felix Scholz

14 min read
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How Contracts Are Usually Signed

As we move deeper into the digital age, the way we sign contracts has transformed significantly. This article delves into the journey from traditional ink signatures to the advanced realm of digital and electronic …

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Felix Scholz

8 min read
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Mastering the Art of Bartering: A Modern Guide to Ancient Exchanges

In an era where digital transactions and virtual currencies dominate, the ancient practice of bartering is experiencing a renaissance. This timeless method of exchange, where goods and services are traded directly …

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Felix Scholz

11 min read
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How to sign on Behalf of Others: p.p., for/on behalf of, etc.

Correctly using abbreviations like p.p., for/on behalf of, and as authorized agent while signing on someone else’s behalf is crucial. It’s not just about formal correctness, but also clarifying legal powers …

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Felix Scholz

11 min read
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The Best AI Contract Management Assistants for ChatGPT Users in 2024

In this article, we explore the top AI contract management tools for ChatGPT in 2024, tailored for SMEs seeking to streamline their contract processes. We showcase how these tools simplify legal document drafting, …

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Felix Scholz

3 min read
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Revolution of the legal system: Legal AI

In a world where technology is permeating almost every aspect of our lives, the legal industry is not immune. The advent of artificial intelligence (AI) has unleashed a transformative wave that is not stopping at the …

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Markus Presle

2 min read
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Contract Administration Software: Governance & Compliance

Contract Administration Software is not merely a tool, but an essential strategic component of modern business management. The implementation of such solutions enables companies to optimize their contract management and …

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Markus Presle

3 min read
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Efficient proposal generation thanks to contract management software

In today’s competitive business environment, efficient and accurate proposal generation is critical to a company’s success. Traditionally, quotes have been created manually, which can be time-consuming and …

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Markus Presle

4 min read
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Importance of Contract Monitoring: Risk Management

This blog post highlights the importance of contract monitoring for effective risk management in businesses. It minimizes financial risks, ensures legal compliance, and improves business relationships. Investing in …

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Markus Presle

2 min read
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Corporate Housekeeping: The Key to Success and Compliance

Corporate housekeeping is critical to the success of any business. It involves keeping accurate records, monitoring compliance with legal and regulatory requirements, and implementing good corporate governance practices. …

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Markus Presle

2 min read
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Legal Design: Making complex simple

The legal system is widely known for its complexity, which makes it difficult for people without a legal background to navigate and understand. In a society where access to justice is a fundamental right, it is …

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Markus Presle

3 min read
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How a contract generator can save time and effort

In this blog post, we take a closer look at the benefits of using a contract generator, staying compliant, and choosing the right one for your business. Whether you’re a small business owner, a freelancer, or a …

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Markus Presle

4 min read
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Potential of Chat GPT in the legal industry

Chat GPT 3 and other artificial intelligence and natural language processing technologies are beginning to transform the legal industry. Despite fears of job displacement, it is important to recognize that these …

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Markus Presle

6 min read
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Contract Management Software Comparison: TOP15 Vendors

Contract management software is an indispensable tool for companies looking to streamline the process of contract creation, execution and maintenance. It can help companies save time and reduce the risk of errors by …

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Markus Presle

3 min read
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Contract management responsibilities: Overview & analysis

Contract managers play a critical role for an organization by managing and monitoring contracts throughout their lifecycle. For example, they serve as a liaison between companies, employees, customers, suppliers and …

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Markus Presle

4 min read
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Contract Creation: 8 Ways to optimize

There are many benefits to fully coordinating all contract management processes. By optimizing the contract creation and approval phases, contract management processes can be made sound and efficient at the same time.

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Markus Presle

4 min read
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Contract negotiation: How to negotiate in the 21st century!

Contract negotiation hasn’t changed since the advent of email, but new technologies are making it faster, smarter, and less risky. In this article, we explain what it is, why traditional approaches introduce …

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Markus Presle

5 min read
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Contract Management Security: 5 Best Practices

All sensitive information of a company is contained in its contracts. Therefore, contract management security is enormously important for companies of all sizes, but at the same time it is often a major vulnerability.

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Markus Presle

6 min read
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How to manage contracts with excel (template included)

Managing contracts is not easy, but with the right contract management template excel, managing and renewing contracts can be simplified. While we generally recommend using a modern contract management software (like …

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Markus Presle

4 min read
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QES signature: Meaning and Application

A QES signature (qualified electronic signature) is an advanced electronic signature (AES) based on a qualified certificate and created by a qualified electronic signature creation device (QSCD).

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Markus Presle

4 min read
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Contract Management Process: how the optimal process looks like

The contract management process is the foundation of every contract and therefore critical to successful contractual relationships. Streamlining the workflow of this normally time-consuming process comes with significant …

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Markus Presle

4 min read
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Digital contract signing: This is what you need to consider!

A contract is only valid if all parties involved sign the agreement. Only with a valid signature does a contract have legal force. Therefore, it is important to consider some points when using digital contract signing.

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Markus Presle

4 min read
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Legal automation: The future of law

Legal automation is the use of software and technology to streamline, manage, and execute legal tasks or workflows in order to increase efficiency.

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Markus Presle

4 min read
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What is contract automation and what are its benefits?

Contract Automation is the process of optimizing the creation, management and execution of contracts through digitization and automation. It simplifies and streamlines the process of creating contracts.

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Markus Presle

4 min read
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Contract management: 4 steps to optimization

Proper contract management helps meet deadlines and increase productivity while reducing liability issues. Every company needs streamlined contract management - here’s how to successfully improve your contract …

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Markus Presle

4 min read
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Contract management via Excel: Why this is not a good idea!

For most companies, Excel usually plays a role in contract management at some point. Excel is one of the most accessible and widely used software programs in the world, yet it is far from optimal for effective contract …

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Markus Presle

3 min read
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What is digital contract management?

In business, a lot revolves around contracts. And contracts pile up as companies grow and the number of transactions increases. That’s when companies realize they need a system to store, track and analyze contracts …

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Markus Presle

3 min read
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Drawing up a contract: 9 steps to create an effective contract

A good contract doesn’t have to be complicated. Here’s how to create and enforce contracts - while protecting your business.

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Markus Presle

7 min read
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How contract management software reduces costs

From small businesses to large corporations, companies of all sizes rely on contracts to protect themselves and manage every aspect of day-to-day operations. Deliveries to customers, services from suppliers, leases for …

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Markus Presle

3 min read
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Artificial Intelligence and Automated Contract Review

Contract review technologies have been around for years, but they have primarily been used to store and organize contracts. But more innovative tools are now available to companies that eliminate the tedious, manual, and …

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Markus Presle

2 min read
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Contract management vs. document management

There is much confusion between the definition of contract management and document management. Some people use the terms interchangeably, while others consider them to be completely different solutions. So what is the …

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Dominik Hackl

6 min read
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Contract management software as the basis of business success

Contract management software makes it possible to ensure that a company’s entire contract lifecycle is flawless and legally compliant. In this blog post, we’ll explain the benefits of contract management …

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Markus Presle

6 min read
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The 8 phases of contract management

Effective contract management can essentially be divided into eight phases. The following article provides an overview of these phases and outlines the lifecycle of a typical contract.

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Markus Presle

4 min read
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What is an electronic signature?

Without a doubt, electronic signatures are the best way to sign contracts. In fact, electronic signature tools are helping thousands of organizations create a better signature experience, automate their business …

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Constantin Wintoniak

4 min read
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Contract management vs. contract lifecycle management (CLM)

Although contract management and contract lifecycle management seem synonymous at first glance, they are not interchangeable. When looking for ways to improve legal workflows in an organization, it is important to know …

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Markus Presle

3 min read
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8 advantages of contract management software

Contract management software serves as a central software for companies to handle all their contract processes. It connects with existing systems, automates the entire contract lifecycle, and improves contractual …

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Constantin Wintoniak

4 min read
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What are the benefits of document automation?

Automation is becoming increasingly important in everyday business. Attached are some reasons why companies are turning to this technology to create and manage documents in an automated way.

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Markus Presle

1 min read
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What is Contract Redlining?

Contract negotiations can be incredibly complex. Many contracts are sent back and forth between different parties several times before they are finalized. This back and forth is called “redlining” and is …

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Constantin Wintoniak

10 min read
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Why is contract lifecycle management so important?

Contracts go through a long journey, with numerous stages between creation and execution. Without proper contract lifecycle management, a company can be exposed to serious financial and operational risks. Especially when …

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Constantin Wintoniak

1 min read
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What is legal document automation?

Legal document automation is a blessing for law firms, legal departments and even users of legal services. In the past, legal departments spent countless hours creating and managing legal documents. But with the advent …

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Markus Presle

3 min read
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Why contract management streamlines processes

Regardless of the industry, contract management is an essential part of any business. Contracts form the backbone of daily business operations and are an important risk management tool. As a company grows, so does the …

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Markus Presle

3 min read

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