Why would anyone take the time, effort, and all the lawyer fees to negotiate and draft detailed, often complex contracts and agreements with vendors, suppliers, and clients, only to file them all into a drawer, never to be looked at again?
We at Brightleaf see it all the time. We believe that contract management through “Contract Intelligence” is key to successfully mitigating your risks, managing your obligations, and even finding money! What if there was a penalty clause that you had forgotten, and could result in imposing performance penalties that would be due to you? What if your vendor had a reporting obligation, or an obligation to decrease your costs if the volume goes above a certain limit?
Having access to the terms, legal provisions, and obligations outlined in your executed contracts is key to running a successful business.