Contract negotiation
Do you have a question about collaborative contract negotiation? Definition, description of the need, functionalities and practical sheets: you will find all the answers to your questions in this space.
Definition: Contract negotiation
Contractual negotiation consists of sending the model or draft contract to the contracting party to collect its requests for modifications or adaptations.
This phase is usually carried out by email exchange in which the contractors attach the contract in Word format with apparent changes to the document (track changes) and comments.
Collaborative negotiation on the new contract management solutions erase all the imperfections and difficulties that companies may encounter during the negotiation phase (lack of visibility on the progress of the negotiation, complexity of identifying the right legal contact to negotiate a given type of contract, contractual documents stored locally, unsecured and dispersed in separate files, loss of versions etc.)
The final objective is obviously for the parties to agree on a clean version of the contract at the end of the negotiation.
Most common need for contract negotiation
Provide a smooth and collaborative contractual experience.
And for good reason, time-consuming tasks account for 92% of the contracting process, compared with 8% of business expertise, according to the Word Commerce & Contracting.
The challenge here is to to offer a framework conducive to negotiation by centralising activity around contracts in one place.
Discover useful features for contract negotiation
Negotiate with all your contacts in real time
- Invitation of interns and externs
- Collaborative reviews
- Advanced permissions management
- Internal and external messaging
- History and comparison of versions
