Tag: Contract management

The Complete Guide to Effective Contract Repository Management

A contract repository is where every agreement your business depends on finally finds its place. No cluttered folders, no endless searches, no guessing which version is the right one. It’s the organized brain of your …

Contract Management Mistakes that’ll Fail you in Audits

Finance teams are always under fire. Audits, compliance checks, and investor questions are just a few examples that show the pressure never stops. Regulators are ruthless. If you can’t deliver fast, expect red flags. In …

How to Review Business Contracts Like a Pro in 2025

When it comes to business contracts, what you don’t catch can hurt you. That’s why reviewing a business contract before signing is a must. Whether you’re sealing a partnership, onboarding a supplier, or finalizing a …

10 Best Contract Lifecycle Management Practices in 2025

Remember when closing a deal meant printing five copies, couriering them for “wet” signatures, then hunting through shared drives to find version final-FINAL-really-FINAL.docx? Yeah…those days are done. In 2025, …

How to Terminate a Contract? (Without Bleeding)

Ending a contract isn’t always a walk in the park. Without clear termination terms, things can get messy fast. Disputes pop up, legal battles get expensive, and both businesses and individuals can find themselves stuck …

40 Must-Know Contract Management Trends for 2025

The data is clear, Contract management is undergoing a major transformation, with businesses shifting away from slow, manual processes toward more efficient, technology-driven solutions. In this post, you’ll discover the …

15 Things That Absolutely Must be on Your Employment Contract

Employment contracts are among the most common and essential documents that people sign. Job details, compensation, leave policies, and confidentiality are just a fraction of what must be on a contract of employment. …

How to Write a Great NDA? + Checklist

Want to create a great Non-Disclosure Agreement (NDA) to protect your valuable data? Writing a comprehensive NDA requires careful consideration; from choosing between unilateral and mutual NDAs to ensuring all necessary …

15 Types of Contracts and Agreements+Templates

No business runs smoothly without concrete contracts and agreements. No matter how small or big your business is, contracts help you set terms and conditions to protect your interests and ensure a smooth operation. …

Privity of Contract

Privity of contract is a legal principle stating that only parties involved in a contractual agreement can enforce its terms or be liable for them, excluding third parties unless certain exceptions apply.

Effective Date

The effective date is the date when a contract’s terms and conditions officially become enforceable, marking the start of the parties’ obligations.

Declaration of Intent

A declaration of intent is a formal expression indicating a party’s intention to enter into a legal agreement or perform an action. It forms the basis of a legally binding contract when clear, voluntary, and in …

Living Document

A living document is a flexible and continuously updated document that adapts to changing circumstances or new information. Unlike static documents, living documents are designed for ongoing revisions and are often used …

360 Deal

A 360 deal is a contract in the entertainment industry that allows a label or management company to claim a percentage of an artist’s earnings from various sources, such as music sales, tours, merchandise, and …

How to Manage Contracts with an Excel Template? [2025 Update]

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 modern contract management software like fynk, …

Contract Management Checklist: From Initiation to Renewal

Contract are backbone of any business and to run a smooth one, you need to keep track of the process efficiently. From the preparation and execution to renewal and monitoring stages, there are many things that you need …

How to Add Signature to Email (Gmail, Outlook, and Mail)?

You can easily add a digital signature to your emails on platforms like Gmail, Outlook, and Apple Mail by accessing their settings. In this guide, you’ll learn how to customize your signature with text, images, …

Understanding Legalese: A Practical Guide for 2025

Legalese often complicates legal documents with its dense and complex language. Our guide helps you understand, speak, and simplify legalese, ensuring clarity in your contract management processes.

How to Add Signature in Google Sheets? 2 Quick Ways

You can use two methods to add your signatures in Google Sheets by using Google Sheets’ built-in features or using an eSignature platforms. For simple, non-legally binding signatures, you can use the Drawing tool, …

How to Add a Signature in Google Docs? 3 Simple Ways

This guide gives you a detailed explanation of how to electronically sign Google Docs using three methods like drawing your handwritten signature directly in Google Docs, using a scan of your handwritten signature, or …

How to Electronically Sign an Excel Document? 5 Easy Ways

Inserting a signture in an excel spreadsheet is easy, you can use the Signature Line feature, convert the Excel to a PDF and then sign it, draw your signature, insert an image of your signature, or type your full name. …

How to Electronically Sign a PDF Document? The Easy Ways

It’s easy to sign a PDF document, whether you have simple agreements like permission slips, or more important documents like NDAs and employment contracts to sign. In this guide, we’ll show you step-by-step …

How to Electronically Sign a Word Document? 5 Easy Ways

There are five ways to electronically sign a Word document; using Word’s built-in features like signature line and drawing, or using an eSignature platform like fynk. The following guide will walk you through the …

Electronic Signature Legality - All You Need to Know

Electronic signatures are widely accepted, admissible, and legally binding in most countries around the world. However, there might be slight differences in the governing regulations in each country. In this guide, we’ll …

Electronic Signatures (eSignatures) Complete Guide [2025]

Electronic signatures (eSignatures) are a secure and efficient way to sign electronic documents. They are widely accepted throughout the world and, therefore, legally binding. But what exactly is considered an …

What is a Qualified Electronic Signature (QES)?

Qualified electronic signatures (QES) are the strongest type of electronic signatures recognized by the EU regulation, eIDAS. You need to obtain a special certificate from a qualified service provider to use it. In this …

What is Advanced Electronic Signature (AES)?

An Advanced Electronic Signature (AES or AdES) is one of the three types of eSignatures introduced by the EU regulation eIDAS. Since it’s unique, trackable, and linked to the signer by an electronic certificate, AES is …

What Is Simple Electronic Signature (SES)?

A Simple Electronic Signature, or SES, is simply the electronic version of your signature on paper. It’s the easiest and fastest way to sign everyday digital documents that don’t require high security. Although …

Contract Renewal vs. Contract Extension

Explore the distinctions between contract renewal and extension, including their advantages and drawbacks, along with practical examples that help in making informed decisions in contract management. This guide offers …

Understanding Breach of Contract: Consequences and Prevention

Discover the different forms a contract breach can take, the legal and financial consequences that result, and how effective contract management can help you minimize risks and act more securely. This guide offers …

Contract Severability Clause: Explanation, Example, Template

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 …

What Does Commencement Date Mean Exactly?

The commencement date is the time or date that a contract becomes officially effective and therefore, legally binding. This guide demystifies the concept, offering clear definitions, the distinction from effective dates, …

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 …

Difference Between Contract and Agreement

Contract or agreement? If you’ve ever wondered what exactly the difference between an agreement and a contract is. While the two share similarities and overlaps, they also have important differences. In this …

Freedom of Contract: Comprehensive Guide - Meaning & Examples

Freedom of contract means parties can independently and fairly negotiate and set their own terms, conditions, and responsibilities without the government restictions. Although this freedom seems the opposite of …

How are Contracts Usually Signed?

Contracts are usually signed either physically (handwritten) or electronically, by all involved parties to confirm their agreement to the terms. Each party typically signs on designated signature lines, along with the …

The Best AI Contract Management Assistants for ChatGPT Users in 2025

In this article, we explore the top AI contract management tools for ChatGPT in 2025, tailored for SMEs seeking to streamline their contract processes. We showcase how these tools simplify legal document drafting, …

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 …

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 …

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 …

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 …

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 …

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.

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 …

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.

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 …

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.

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.

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.

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 …

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 …

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 …

Drawing up a contract: 9 steps to create an effective contract

A contract should clearly identify the parties, detail obligations, specify payment terms, outline duration and deadlines, include termination conditions, address dispute resolution, and provide signature lines for all …

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 …

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 …

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 …

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.

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 …

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 …

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 …

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 …

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 …

Clickwrap

Clickwrap agreements are clickable elements that confirm users’ agreement to the terms of a website or application. They are commonly used for online agreements that users agree to and click on a button or …

Contract administration

Contract administration is the management of contracts entered into with customers, suppliers, partners or employees. It refers to the management of all actions related to contracts.

Contract administration software

Contract administration software helps organizations create, negotiate, renew and manage contracts. Contract administration software is an indispensable tool for ensuring that the intent of each contract is fully …

Contract audit

Contract auditing is the process of reviewing a company’s contracts. The purpose is to ensure that the quality, compliance and fulfillment of contracts are correct and to reduce contract risks as much as possible.

Contract automation

Contract automation eliminates manual work in Word documents and lets you create legally compliant contracts automatically.

Contract database

Unlike traditional ways of storing contracts in different locations, a contract database is a central repository where contracts are stored in an organized and accessible way.

Contract lifecycle

Contract lifecycle is the process of tracking and managing every aspect of a contract for performance, compliance, and other success factors - from execution through renewal or expiration.

Contract Lifecycle Management (CLM)

Contract Lifecycle Management (CLM) is the effective management of contracts and relationships between organizations through proper planning of all phases of contract management, resulting in the reduction, elimination …

Contract management

Contract management encompasses all activities that revolve around contracts in a company: From the contractual negotiation between the parties, to the creation and approval of the contract, to the management of …

Contract management platform

A contract management platform is used to create, negotiate, sign, and renew contracts and to collect actionable data about business contracts. It helps companies and lawyers replace manual management of physical …

Contract management software

Contract management software serves as a centralized management of legal agreements such as contracts with suppliers, leases, service contracts, license agreements, etc. An important purpose of contract management …

Contract management system

A contract management system is an indispensable tool for ensuring that the intent of all contracts that affect an organization are adhered to.

Contract manager

A contract manager is responsible for the administration and management of contracts and for overseeing the process of consolidating, creating, and executing contracts.

Contract Repository

A contract repository is a place where contracts are stored. In the past, it was usually a physical location where originals and copies of paper documents were stored. Nowadays, it is understood as a digital storage of …

Contract review

A contract review is a process used to identify and analyze the key provisions of a contract. The purpose is to minimize legal and financial risk.

Contract software

Contract software maps the process of digitally managing contracts with customers, suppliers, partners or employees. This includes the creation, management, sharing, analysis and archiving of contracts.

Digital Contract

With increasing automation, paper contracts are a thing of the past. Digital contracts increase efficiency and enable companies to keep pace with their competitors.

Legal SaaS

Legal SaaS is a collective term for software that deals with the digitalization of processes in legal departments or law firms. It includes many different types of software, from case management to billing to contract …

Nunc Pro Tunc

Nunc pro tunc is a vital legal term used to correct dates on legal documents, ensuring they reflect when actions were intended to take effect, preserving fairness in contract management and legal procedures.

Optical Character Recognition (OCR)

OCR (Optical Character Recognition) is a technology that can analyze text and convert it into a format that can then be processed by machines.

Redlining

Redlining is the process of editing a contract where two or more parties negotiate or collaborate. The goal is to produce a joint document that satisfies all parties.

Signature field

A signature field allows you to add a blank digital signature form field to a document. When a signer clicks on the field, a dialog opens and prompts the signer to co-sign the file.

Signing

Signing a contract means that the parties agree to the terms and conditions contained therein and their contractual obligations.

Sua Sponte

Sua sponte is a legal term meaning “on its own motion.” It refers to when a judge acts without a request from either party, ensuring fairness in legal proceedings.