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Here are some things that are worth considering when reviewing a contract: Focus on the most critical clauses. Strive for clear language. Review default terms. Check for blanks. Read termination and renewal provisions. Note docHub milestones. Allocate risk fairly. Understand the remedies provisions.
The contract approval process is the step in contract management where a proposed agreement is analyzed and approved for use by the organization. A manager or committee typically oversees the process, and it involves reviews of the terms of the agreement and approvals from different areas of the company.
An Example - Contract Approval Form (CAF)
The contract approval process involves reviewing contracts to see if all parties have reviewed them and which departments or stakeholders still need to approve them. It can be incredibly time-consuming because its often a disorganized mess involving many people and opinions.
Contract workflow refers to the series of steps and processes involved in the creation, negotiation, approval, execution, and management of a contract. It outlines the various stages and actions required to ensure that contracts are drafted, reviewed, and finalized efficiently and effectively.
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Approved Agreement means an Award Agreement, employment agreement or other written agreement between the Company or a Designated Affiliate and the Participant which has been approved by the CEO (or where the Participant is the CEO, approved by the Board);
For example, a typical contract approval workflow might look like this: The contract creator in the sales team sends the contract for approval. The contract is then reviewed by legal counsel, who can approve or reject it. The contract is also reviewed by finance and operations, who provide their verdict.

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