Contract Negotiation Process
Throughout the negotiation process, a record of all communications are maintained. Most negotiations involve a stream of communications and redlined documents. It’s important that a record be captured of all information that is exchanged.
Capturing records of all types, not just the contract itself, but also emails, paper documents, and even faxes or notes, is critical.
Other electronic tools, for example comparison tools, may be handy as well in this phase to ensure the integrity of the process.
Capture every redlined edit and comment during a negotiation
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