Contract Insights

If your organization develops products, your team does not necessarily need to tackle the manufacturing process alone. In fact, most organizations enter into manufacturing contracts. These contracts make it so another company can handle the production process so that you can sell those finished products. A manufacturing contract sets the provisions of this agreement.

But what else is involved in a manufacturing contract? How does one manage a manufacturing contract once parties agree to enter one?

Let’s explore how to define and manage a manufacturing contract.

We know. We usually talk about contract management software here on the Contract Insights blog. But what if we rewound for now to a stage that often comes before contracts: letters of intent?

What is a letter of intent? Why does it matter? What does it have to do with contracts?

Read on to find out.

Contract review is a crucial contract management stage.  Unfortunately, far too many organizations overlook this process or leverage out-of-date methods that can increase unnecessary risk.

Thankfully, we can establish a contract review processes checklist and manage the life of a contract with leading contract management software.  Let’s get started.

At the heart of healthy business relationships are contracts. In an ideal world, contract parties perform obligations, they renegotiate or renew, and all are happy with a longstanding and fruitful business relationship…

…but unfortunately, we do not live in an ideal world.

Sometimes, one party fails to perform. As such, a breach of contract occurs. Time and money are wasted. Opportunities and value go “poof.” Crucial business processes are delayed or destroyed. Trust between parties is maimed.

With all of these negative effects, a breach of contract should clearly be avoided. Parties should have the right tools to identify contracts’ failure to perform and prevent breaches of contract. Thankfully, contract management software can help.