Traditional paper contracts were replaced long ago by better contract processes. The paper document has been foregone in favor of digital contracts. However, not all computer-based contract management processes are created equal.
Contract execution is a critical stage in contract lifecycle management. By this point, the terms of the contract have been negotiated. Parties have ensured that everything is understood and all necessary resources have approved the written agreement. From there, contract parties sign the contract to propel its execution.
Given the importance of this stage of contract management, you should know what an executed contract is and its meaning. As such, here is a brief overview of an executed contract.
What is a digital signature? Is it not the same thing as an electronic signature?
We inhabit an ever-evolving technological landscape in which new and updated terminology and functionality are constantly presented. It can be confusing to know the differences between terms such as the two mentioned above. However, those differences are actually quite simple!
Familiarize yourself with these two terms. Discover how to utilize both eSignatures and digital signatures to establish a process that is:
- and rapid.
A contract amendment is a modification of the terms and conditions of a contract or subcontract.
Though we will explore contract amendments more in-depth, it is worth noting that changing the structure, duties, obligations, or rights of a contract requires increased oversight.
To that end, let's explore contract amendments and how disparate, important, and sensitive information can be managed, and contract amendments can be executed smoothly for effective contract management.