Benefits of a Contract PlayBook

 

•   Eliminates need for counsel to review all Contracts

• Facilitates swift decision-making in Contract negotiations

• Ensures uniform contracting procedures

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•   Provides guidance on Contracts

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•   Improves stakeholders’ knowledge of acceptable contract terms

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•  Establishes corporate contract policy & risk thresholds

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• Supports contract risk allocation

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• Pre-establishes negotiation fallback position

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• Facilitates delegation of authority

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•   Expedites Contract Turn-Around Time

 

  Role of a Contract PlayBook

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• The Contract PlayBook (“PlayBook”) is a manual and reference guide that establishes and documents your company’s approach to the development, generation, administration and management of Contracts.

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The PlayBook will document contract policies and procedures, defines the roles and responsibilities of relevant stakeholders, and provides guideline on managing the contract negotiation process, risk assessment and allocation of contractual liability between the contracting parties.