Contract Insights

From simple deals between friends to complex business arrangements, contracts play a crucial part in defining the terms and conditions of an agreement. One common type of contract is a bilateral contract – which we will explore in this blog post!

What is a signatory? Have you ever come across the term in a contract or other legal document? In simple terms, a signatory is someone who signs on the dotted line to formally indicate their commitment or agreement to a contract. However, a contract signer's responsibilities can vary depending on the context of a contract. This post will delve into the definition of a signatory, explain key aspects of the role, outline the responsibilities, explore the types of signatory, and reveal how to make the job of a signatory easier and more streamlined.

What is contract ratification? A contract is not legally binding until it is ratified. Once a contract is ratified, it is transformed from a tentative agreement into a legally enforceable contract. However, the ratification process can be compromised by ambiguous terms and conditions, errors in the management of the agreement, and uncertainties about the authority of the parties involved. To elucidate the purpose of ratifying a contract and how to avoid issues, let's explore contract ratification in detail in this blog post.

Did you remember to read all of our blog posts from March? Don't worry; we have outlined each of them for you. Stay up-to-date with industry topics, real-world case studies, and contract management software and procurement best practices in April by reading the latest CobbleStone^® content.