We offer a wide range of professional contract advisory services. See more below:
We will assist you in establishing the basic elements required in your contract. A particular focus will be on the commercial aspects such as contract deliverables, pricing, termination, cost /price escalation.
The process of sitting down and discussing each element of the contract can be arduous and time consuming.
Contract Solutions can provide an efficient and focused negotiation process, ensuring your key requirements and ‘non-negotiables’ are included in the contract.
Disputes in negotiating the contract
Disputes over interpretation and implication of various clauses including ensuring your overall intent and objectives are met can be stress-full and objectivity can be lost. Pressure is often intense with plenty at stake.
Contract Solutions can act on your behalf, or sit with you during these negotiations and ensure equitable conclusion is reached.
Contract analysis, interpretation and summary of key terms
With the size and complexity of many contracts, it can be difficult if not impossible to fully appreciate what you or your business are actually signing up to.
Contract Solutions can review your existing or proposed contracts and produce an easy to understand summary of key terms, the overall intent and effect of the contract whilst highlighting potential areas of concern.
Contract change management
Markets, the economy and our businesses are constantly changing. Contracts don’t have to be set in stone. They can be dynamic to reflect the constantly changing conditions of the market place.
Having a structured contract change management process can be critical to enable both the predictable as well as unforeseen changes to be incorporated into your contracts and avoide lengthy contract disputes. Contract Solutions can ensure these mechanisms are in place contractually as well as providing a service to initiate and implement changes to your contracts when required.
Contract risk management
There are many hidden risks in contracts and the ‘wordy’ nature of them can make it difficult to understand the full extent of your exposure.
Our structured and analytical approach will identify those risks to you and your business. Contract Solutions will then redraft the wording of the contract to either eliminate or at least minimise those risks. Any residual risks then need to be managed by the business using an effective risk management framework – we can design and implement that for you as well.
Contract handover and business implementation/ integration
Many times, after the contracts are finally executed, there can be a lack of proper implementation into the business. This can lead to staff not knowing their obligations or those of the counter-party. Contract Solutions can customise either simple check-lists or a comprehensive audit process for your business to ensure proper accountability and management of your contracts.
Contract execution process (management framework)
For larger contracts, the complexity of the subject matter, often requires input and review by subject matter experts in areas such as tax, accounting and legal. In addition, delegated financial authority must be adhered to ensure contracts are only executed once all due diligence is complete.
We can help your business setup an effective contract execution process that captures the required input and the appropriate time.
Even the simplest contract requires proper version control and document management to ensure that the executed terms are actually the ones the business is operating to.
Price escalation, and subsequent notification to customers for example can be a critical part to ensuring revenue are escalated, reflecting your contractual rights. Contract Solutions can provide a service for you to do this.