At a time when work for legal teams is ever increasing and closing contracts on time is critical, it is important for lawyers to align everyone in the company on which legal positions are acceptable to your organisation and more importantly, those which are not.
How Contract Playbooks Help Legal Teams
Contract playbooks can help business teams review contracts before they land up in the legal team’s inbox. A contract playbook is a document that details out a company’s standard contract terms, with an explanation of each clause along with fallback clauses (for situations where the customer wants to negotiate a standard clause), and also details when the company should “walk away” from a contract.
Identifying contracts that can be negotiated by implementing a simple yet robust negotiation playbook can save lawyers hours spent on reviewing contracts.
SpotDraft’s Free NDA Negotiation Playbook Template
Since NDAs are one of the most commonly used contracts by businesses - we’ve put together a NDA negotiation playbook for legal teams of all sizes.
In this template you will find an end to end playbook to negotiate NDAs which can be adapted to negotiate any other contract type as well. The playbook includes:
- Exhaustive list of key clauses that need to be reviewed
- Classification between negotiation position as a recipient or discloser of confidential information
- Simple language explanation of key clauses so that business teams can understand the relevance and significance of the clause
- Standard and fall back positions for each clause
- Recommended approval workflows for deviations
- Sample standard clauses for easy copy and pasting
With some additional work - this NDA playbook template can also be adapted to work with any other contract type you need.
SpotDraft’s AI assisted templating engine can automatically implement all playbooks across a company’s contracts, saving hours of time for both legal and business teams. To learn more about how SpotDraft has helped legal teams bring down their contract review time by almost 90% - you can setup time with our team here.