What are the key factors behind slow contract negotiation?
Most negotiations tend to happen via email and will only get escalated to a direct call when bouncing the draft back and forth is no longer useful. Email is not the smoothest way to communicate your terms and position.
Tracked changes are unreliable which means that every change by the other party warrants a complete reread of the contract. Moreover, markups really comments aren't helpful when especially when written by multiple people.
Is confusing for everyone and therefore requires greater levels of concentration and therefore more time to interpret.
No individual neither the parties hereto will understand the provisions contained hereinafter whatsoever.
A part from being excessive and unnecessary, the main problem with legalese is it inclines parties to suggest their own formulation of the legalese. As a result, time and effort is lost reformulating clauses despite the fundamental terms of the contract being agreed.
Contract Negotiation with Legislate
Legislate removes these hurdles from the negotiation by:
- Automating the majority of the negotiation for you
- Focusing your efforts on understanding terms and helping you set suitable ones which are likely to be accepted
- Generating a final draft for signature ONLY when all the terms have been agreed.
- Enabling you to e-sign the draft straight from your laptop or phone, no printing required!
Legislating takes minutes, not hours and allows you to focus on the relationship you are building!
Why don't you give Legislate a try?
Please don't hesitate to reach out if you have any questions or suggestions here.