Contract drafting is essential in helping capture the purpose of a contract in written form. Haphazard drafting of a contract can result in pushing outdated contract versions to collaboration and negotiation. Additionally, the lack of a centralized and informed process can result in incorrect language being introduced into the review process. Unfavorable terms, missed obligations, and legal disputes can follow.
To help you avoid these consequences and more, here are five practical contract drafting tips for more effective contract management.