Contract obligations are a foundational part of any contract. Without the performance of obligations, the terms and conditions of a contract are not met, resulting in a breach of contract. As such, each contract party's obligations should be easily accounted for without any oversights. Thankfully, future-minded and AI-powered contract management software can greatly support and simplify that process. To that end, here are three steps to detect contract obligations with contract intelligence.
Obligation of Contracts - An Overview
4 min read
Unfulfilled contract obligations can create a post-award contract management nightmare that can escalate to stressful legal action – such as issuing a cease and desist or suing your counterparty.
So, how can you avoid this?
By clearly defining the obligation of contracts between you and your counterparty and leveraging contract management software tools to receive timely alerts for each obligation of contracts, you can retain contract obligation accountability instead of meddling with unnecessary disputes.
Topics:
contract life cycle management
Contract Lifecycle
Contract Lifecycle Management
Contract Lifecycle Stages
tasks
post-award contract automation
contract obligations
Obligation of Contracts
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