Contract Pre-Signature Journey Model
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A Contract Pre-Signature Journey Model is a process model that depicts the sequence of actions and interactions leading up to the signing of a contract.
- Context:
- It can help Legal Teams, Contract Managers, and Business Stakeholders understand the steps involved in contract preparation and negotiation.
- It can assist in identifying potential bottlenecks and areas for process optimization in contract drafting and review.
- It can (typically) include stages such as initial contract discussions, needs assessment, negotiation phases, and final agreement review.
- It can (often) highlight key decision points, document revisions, compliance checks, and stakeholder approvals.
- It can be essential for managing complex contracts that require input from multiple departments or entities.
- It can assist in ensuring that all contractual obligations and legal requirements are thoroughly addressed before signing.
- It can be used in various industries where formal contracts are a critical part of business operations.
- Example(s):
- Corporate Merger Contract Pre-Signature Journey Model, detailing the steps from initial merger discussions to the final signing of the merger agreement.
- Real Estate Purchase Contract Pre-Signature Journey Model, outlining the process from property viewing to contract signing for a real estate transaction.
- Counter-Example(s):
- Contract Post-Signature Management Model, focusing on the management and fulfillment of contract terms after signing.
- Non-Disclosure Agreement (NDA) Model, which typically involves a simpler, more straightforward process compared to complex contract negotiations.
- See: Contract Management Process, Negotiation Model, Stakeholder Analysis, Contract Manager
References
2024
- (Knowledge Source, 2024) ⇒ GM-RKB. (2024). "Contract Pre-Signature Journey: Overview and Importance.” In: Legal and Business Process Insights.
- QUOTE: "The Contract Pre-Signature Journey Model is a critical tool in understanding and optimizing the various stages involved in contract negotiations and preparation, ensuring all legal and business requirements are met before the final signing."