How do you optimize contract review for complex sales across different regions and jurisdictions?

1 Identify key contract elements

Before you start drafting or reviewing a contract, you need to identify the key elements that are relevant to your complex sale, such as the scope of work, deliverables, payment terms, warranties, liabilities, intellectual property rights, dispute resolution, and termination clauses. These elements will vary depending on the type and size of your deal, the industry and market you are in, and the specific needs and expectations of your client. You also need to consider the legal and regulatory requirements of the regions and jurisdictions where you and your client operate, and how they may affect your contract terms.

2 Use contract templates and clauses

One way to optimize contract review for complex sales across different regions and jurisdictions is to use contract templates and clauses that are pre-approved by your legal team and aligned with your business goals and standards. Contract templates and clauses can help you save time and resources, ensure consistency and accuracy, and reduce risks and errors. You can create and store your contract templates and clauses in a centralized repository that is accessible and searchable by your sales team. You can also customize and update your contract templates and clauses according to the specific needs and preferences of your client and the region and jurisdiction where the contract will be enforced.

3 Leverage contract automation tools

Another way to optimize contract review for complex sales across different regions and jurisdictions is to leverage contract automation tools that can help you generate, review, edit, and sign contracts faster and easier. Contract automation tools can help you automate tasks such as filling in contract details, checking for errors and inconsistencies, comparing contract versions, tracking changes and approvals, and sending reminders and notifications. Contract automation tools can also help you integrate your contract workflow with other systems and platforms, such as your CRM, ERP, or e-signature software, to ensure seamless data flow and collaboration.

4 Collaborate with your legal team

Even if you use contract templates, clauses, and automation tools, you still need to collaborate with your legal team to ensure that your contracts are compliant, enforceable, and beneficial for your complex sales across different regions and jurisdictions. Your legal team can help you review and negotiate your contracts, advise you on the best practices and strategies, and protect you from potential disputes and liabilities. You should communicate and coordinate with your legal team throughout the contract lifecycle, from drafting to signing to execution.

5 Seek feedback from your client

Finally, you should seek feedback from your client to optimize contract review for complex sales across different regions and jurisdictions. Your client is the ultimate stakeholder of your contract, and you want to make sure that they are satisfied and comfortable with the contract terms and conditions. You should involve your client in the contract review process, solicit their input and suggestions, address their questions and concerns, and resolve any issues or conflicts that may arise. You should also follow up with your client after the contract is signed and executed, to ensure that the contract is fulfilled and that the relationship is maintained.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?