Redlined Change Item
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A Redlined Change Item is a document modification of a contract document that is visually highlighted within a contract document.
to indicate an addition, deletion, or amendment.
- Context:
- It can (typically) be indicated by a specific color (often red) or formatting style (such as strikethrough for deletions, underline for additions) in a redlined contract document.
- It can (typically) facilitate clear communication between the contract reviewer and other Contract Stakeholders about proposed changes to the contract terms.
- It can (often) include annotations or comments to provide rationale for the changes or to seek clarification on certain points.
- It can (often) be managed through document editing software or legal document management systems that support track changes functionality.
- It can (typically) be a critical component in ensuring the accuracy and completeness of a Contract Review Task Instance.
- It can range from being a Simple Redlined Change Item to being a Complex Redlined Change Item.
- It can range form being a Pre-Signature Redlined Change to being a Post-Signature Redlined Change, depending on the contract review phase.
- It can (often) support risk management by identifying areas of potential dispute or misunderstanding before a contract is finalized.
- It can be subject to further discussion and revision as part of the Contract Negotiation process.
- ...
- Example(s):
- The insertion of a new clause in a service agreement specifying the conditions under which service levels must be maintained.
- The deletion of an obsolete indemnification clause that is no longer relevant due to changes in legislation.
- The modification of a payment term clause to extend the payment period from 30 to 60 days.
- ...
- Counter-Example(s):
- A Clean Contract Document, e.g. one that incorporates all agreed-upon changes and is ready for signing.
- A Draft Contract before any review or negotiation process has begun.
- See: Contract Review Process, Contract Negotiation, Legal Document Management System, Risk Management, Contract Terms & Conditions.