In Contract Negotiation parties review the terms and conditions drafted in the contract initially and make necessary changes to match and suit their interest. It is a time consuming method as it includes exchange of several emails notifying changes to each party before reaching the final draft. Further the difference between the contract templates of each party makes it a more tedious process. Consequently, whole process is delayed which exposes organization to various financial and legal risks.
RED LINING is a part of contract negotiation process. It is a process in which both the parties mark their contracts to specify additions, deletions, rejections and some other changes. The amended texts are red marked so as to initiate the negotiation process. While reviewing the contract all the amendments that are made in best of interest of the client are redlined in red colour. It enables the concerned parties to finalise their contracts in an efficient and time bound manner.
During negotiation and creation of a contract in progress, redlining ensures that we are able to view different version of a contract showing changes made in the document, with a line through or strike-through the previous version. It is a manual editing process of highlighting the differences between versions of the same document and displaying the changes in a meaningful and human readable way.
Aeren LPO has a team of professional attorneys having both expertise as well as experience in amicable contract negotiation. Our team puts it’s sincere efforts to negotiate each and every contract in the best interests of our clients.
Aeren LPO follows the process of balancing the actual performance with the one desired. In CLM context, we bring out discrepancies between the actual contract template of an organization and the contract template of the parties involved in it. Further we highlight those differences that give them the opportunity to bridge the GAP so that all parties/members involved, can agree to the terms and conditions of the contracts and close the deal. This helps the client to enter into contracts that are more inclined towards their business interests.