Contract playbooks contain verified and approved terms of sale. The language of the playbook should reflect careful preparation and verification of both the legal and business worlds. Business provides advice on what should be achieved and protected in a particular contract, and legally provides clear language that reduces risk to the organization. Contract playbooks can save time and money for organizations that repeatedly negotiate a particular type of contract. It is also important that Playbooks ensure that the legal and commercial interests of the organization are served in its contracts, which reduces the risk. 8. Key clauses to focus on. While most contract books deal with the entire contract, this is not always feasible, especially if you are in a hurry for time or are preparing something for business against your lawyers. If so, focus on the most important clauses for your business in your Playbook. For example, while commonly referred to as „boilerplate“ these are some clauses that can significantly reduce the risk your company may face when entering into a contract: As part of a consulting project I`m working on, a client recently sent me his Playbook for a particular model. I realized that over the years I`ve only seen a handful of Playbooks, and I`ve never paid much attention to them. Maybe it`s time to change that.
And if you have thoughts about using Playbooks in general, I`d be happy to hear them, and I`m sure a lot of my readers would too. 9. Update regularly. Creating a Playbook requires a lot of work, but creating is not the end of the process. Plan the annual review of the Playbook so you can keep it up-to-date and fresh. Add it to your department`s official goals each year. As you focus on updating the Playbook for changes to your contract, updated contract processes, customer feedback on clauses or legislative changes, it`s also an opportunity to make your Playbook more user-friendly. Think about adding flow diagrams and diagrams – visuals are always useful for creating understanding. Checklists are also useful. Consider adding a discussion about the attribution process in general, including the signature authority and the approval process. Consider defining, after signing, how enterprise contracts are stored and managed.
Finally, make sure everyone receives a copy of the updated Playbook. The best idea is to save the Master Playbook online so employees can easily access it and keep it up to date (but don`t forget to focus on keeping it confidential). Many (especially lawyers) will want to keep a printed copy at their desk. So be sure to indicate when it`s time to get the latest version. Creating and managing a contract Playbooks as part of contract management or other digital systems has obvious advantages: providing the same Playbooks across the organization, eliminating outdated separate desktop versions, updating and approving contract language in real time.