Redlined Contract
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A Redlined Contract is a contract document with redlined changes (proposed changes, additions, or deletions).
- AKA: Revised Agreement.
- Context:
- It can (typically) be the output of a Contract Redlining Task (within a contract review).
- It can (often) facilitate communication between Legal Professionals and Contract Stakeholders during contract negotiations.
- It can (often) include comments, suggestions, or questions alongside the redlined changes to provide context or request clarification.
- It can (often) support Risk Management (by identifying potential issues and areas of disagreement that need resolution).
- It can range from being a Physical Redlined Contract to being a Digital Redlined Contract (possibly with tracked changes).
- It can range from being a Pre-Signature Redlined Contract to being a Post-Signature Redlined Contract.
- It can range from being a Lightly-Redlined Contract to being a Heavily-Redlined Contract.
- It can range from highlighting minor textual edits to substantial alterations of Contract Terms & Conditions.
- It can support Contract-Related Decision-Making by clearly outlining proposed changes for approval or further discussion.
- It can be referenced by Redlined Contract-Related Question, and a Redlined Contract Summary.
- ...
- Example(s):
- a Redlined Service Level Agreement (SLA) draft, with proposed amendments to the service quality metrics.
- a Redlined Purchase Agreement draft with redlined sections indicating payment terms and delivery schedules changes
- a Redlined Employment Contract.
- a Redlined Office Lease Agreement.
- ...
- Counter-Example(s):
- A Finalized Contract Document: A legal document fully reviewed, negotiated, and signed by all parties without any pending changes.
- A Contract Draft: An initial version of a contract document before any review or negotiation process has begun.
- See: Contract Review Process, Contract Negotiation, Legal Document Management System, Risk Management, Contract Terms & Conditions.