Optimizing Contract Terms & Templates

How has the radical change in the business world driven by the COVID-19 pandemic impacted contracting? Exactly how will the focus of our negotiations change, will there be material changes to standard terms, will we see material investment in contract design to support efficiency and effectiveness? In this TASK topic, and in conjunction with the release of the 2020 World Commerce and Contracting Most Negotiated Terms Report 2020, we provide the resources and insights to drive collaboration, anticipate changes to your templates and clauses, and better support future contract negotiations.

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Ideation Clinic

Considering where to store and mange contract terms? The Ideation clinic is available to provide informed, confidential and objective feedback on options and considerations when assessing the best CLM solutions for your organization. Whether you are facing process issues or if you are using a platform and you need your challenges addressed, our Ideation clinics offer a one-on-one consultation with one of our experts at no charge. The consultation will take an agnostic approach and is strictly not a sales call. It’s an opportunity to get meaningful insight and advice from experts.

Contract Terms Analysis & Feedback

Many organizations are now looking to undertake competitive analysis of their terms and conditions. World Commerce & Contracting is at the leading edge of mass data analytics, an area that is transforming the field of contracting.

As a non-partisan, independent global organization, we can help you gain an objective insight into the balance, fairness and competitiveness of your contract terms.

Insights

Most Negotiated Terms Research Report

This pivotal resource is for organizations seeking to understand and manage their negotiations and contracts better.

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Watch Recording

Ask the Expert: Optimizing Contract Terms with the Insights from 2020 Most Negotiated Terms

Exactly how are the focus of our negotiations changing? Will this be the year that Force Majeure knocks Limitations of Liability from the top spot? Will payment terms, data security and termination rights rise up the chart? The answers to these questions lie in the highly anticipated 2020 Most Negotiated Terms Report. In this TASK webinar, and in conjunction with the release of the 2020 World Commerce and Contracting Most Negotiated Terms Research Report, President Tim Cummins sits down with Bernadette Bulacan, Lead Evangelist at Icertis, to share highlights from the report so that you can be ready to optimize your contract terms.

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Watch Recording

Ask the Expert: How technology is changing legal terms and practices

Technology is starting to change the way contracts are formed, communicated, managed and litigated. A big question is how fundamental that change will be. For example, will we simply automate what’s done today, to improve efficiency? Or will changes be much more far-reaching - for example, driving new levels of standardization of terms and introducing innovation in dispute resolution? Will we see the use of alternative legal codes and the decline of traditional choices of jurisdiction?

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Read the Report

The Purpose of a Contract

Participants were asked to evaluate the extent to which a contract should fulfill a selection of eleven possible purposes. They were then asked to assess how successful their contracts actually are in achieving each purpose.

See results here

Build Your Contract Drafting & Design Skills

Online Training

Top Six Mistakes in Cloud Computing Contracts with David Tollen, October 20, 2020

This training program walks through typical mistakes contract drafters make when drafting and negotiating software-as-a-service (SaaS) and other cloud computing contracts.

Registration is now closed

Contract Design Workshop

In an age of fast-growing complexity, the winners are those who simplify the lives of others. Learn how to create simpler contracts that will delight your customers and suppliers – and improve your business outcomes.

Ask the Expert: Ten Basic Contract Drafting Rules to Speed Up Legal Reviews

Business clients hate it when contract drafts are held up in legal review. Drafters can speed up the other side's legal review - and improve the odds of a successful transaction - by following ten simple writing rules.

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Ask the Expert: The Rise of the Contract Designer – Contract Simplification and Design Explained

We have devised a set of guidelines to support and streamline the drafting and negotiation of your contracts. Reduce the time it takes to reach an agreement with these industry-adopted and commercially practical recommendations for buyers and sellers.

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Tools for Drafting and Designing Competitive Contract Terms

Contracting Standards

We’re applying mass data analytics to transform the field of contracting. We’ve collected and analyzed thousands of templates to develop a library of the highest contracting standards.

Contracting Principles

We have devised a set of guidelines to support and streamline the drafting and negotiation of your contracts. Reduce the time it takes to reach an agreement with these industry-adopted and commercially practical recommendations for buyers and sellers.

Watch Live: Ask the Expert: Putting Contract Negotiations on Steroids, October 26, 2020

WorldCC’s Contracting Principles lay out fair and balanced terms that enable parties to reach win-win that much faster. This panel – with the drafters of the Principles -- will talk about the value of speed, ways to achieve that speed, and how widespread adoption of the Principles can create a new and improved playing field for all suppliers and customers.

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Contract Design Pattern Library

This Library, curated by World Commerce & Contracting, is an ongoing collection of contract design patterns – eﬀective, repeatable solutions to commonly occurring usability and understandability problems in contracts. Contract design patterns help you organize and communicate your contracts more clearly, so that they are read, understood, and acted upon.

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Most Negotiated Terms 2020: Act tough or play fair?

Markets are in turmoil, businesses face massive uncertainty. In this situation, how and what should I be negotiating?

COVID-19 is transforming the landscape for trading relationships, creating an environment that is unstable and unpredictable. Commercial negotiators are uncertain whether to address this through increased collaboration, or increased confrontation.

The 2020 worldwide study of the Most Negotiated Terms (released on October 7th) reveals a growing gap between industries. Some – like aerospace and oil and gas – can only recover through increased cooperation. Others, like the garment industry or hotels and leisure, have opted for more draconian measures, cancelling contracts and withholding payments. For many, that choice has often depended on the strength of their balance sheets. Do I play tough – and perhaps drive my customers or suppliers to the wall.? Or do I play fair – and try to sustain my customers and suppliers for better times ahead?

Sally Guyer, Executive, board director, mother and entrepreneur

More training opportunities and further resources

World Commerce & Contracting Training and Certification

Whether you are a large corporation seeking to establish best practice across your organization, a small-medium sized company seeking access to organized collective knowledge and experience, or an individual seeking to enhance your knowledge and attractiveness as an employee, World Commerce & Contracting offers a professional development program to meet your needs.

World Commerce & Contracting Resource Library

Search thousands of templates, articles, research reports and more.