Tag: Contract Negotiation

Contract version control: how to track and compare versions

Contract version control means keeping one current draft, a record of every change and a signed copy you can point to. Compare every returned version for added, removed and changed wording, approve one exact revision and …

How to redline a Word document: Track Changes and Compare

Word has no button called “redline”. Redlining in Word means Track Changes, comments and Compare. This guide shows each step on Windows, Mac and Word for the web.

Aleatory contracts: meaning, insurance and examples

An aleatory contract is one where at least one party’s performance depends on an uncertain event, so the values exchanged are unequal. Insurance is the textbook case.

How to write a contract proposal (with sample outline)

A contract proposal sets out what you will deliver, by when, for how much and on which terms, so the client can accept it and move straight to a signed agreement. This guide shows how to write one in eight steps, gives a …

Contract playbook: what it is and how to build one

Contract review is slow and stressful, especially for people outside legal who face unfamiliar clauses and pressure to get things right. A contract playbook fixes that by writing down, clause by clause, what your company …

What does commencement date mean? Meaning and examples

The commencement date is the day performance under a contract starts, such as the first day of a job, the start of a lease or the day construction work begins. This guide explains how it differs from the effective and …

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 …

Barter system: what bartering is and how it works today

Bartering means exchanging goods or services directly, without money. This guide explains what a barter system is, how it differs from trade, swaps and countertrade, the main types of barter, modern business examples, …

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 business …

What is contract redlining? Meaning and how to redline a contract

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 critical to …