Contract Issue-Spotting Process
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A Contract Issue-Spotting Process is an issue-spotting process that systematically identifies and analyzes potential contract-related issues (through application of contract issue-spotting rules and contract analysis methods).
- Context:
- It can range from being a Simple Contract Issue-Spotting Process to being a Complex Contract Issue-Spotting Process, based on contract complexity.
- It can range from being a Manual Contract Issue-Spotting Process to being an Automated Contract Issue-Spotting Process, based on method used.
- It can range from being a General Contract Issue-Spotting Process to being a Specialized Contract Issue-Spotting Process, based on contract type.
- It can range from being a Preliminary Contract Issue-Spotting Process to being a Comprehensive Contract Issue-Spotting Process, based on depth.
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- It can apply Contract Issue-Spotting Rules, such as:
- Contract Formation Rules: examining offer, acceptance, and consideration
- Contract Term Rules: analyzing express terms and implied terms
- Contract Performance Rules: evaluating obligations and conditions
- Contract Risk Rules: identifying potential legal risks and business risks
- It can involve Contract Issue-Spotting Steps, such as:
- Contract Review Step: reading and understanding contract content
- Issue Identification Step: spotting potential problems or risks
- Analysis Step: evaluating identified issues
- Documentation Step: recording findings and concerns
- It can focus on:
- Legal Issue-Spotting: identifying potential legal problems
- Financial Issue-Spotting: identifying potential financial risks
- Operational Issue-Spotting: identifying potential performance issues
- Compliance Issue-Spotting: identifying potential regulatory issues
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- Example(s):
- Legal Contract Issue-Spotting Processes, such as: Contract Validity Review and Legal Compliance Check.
- Risk Contract Issue-Spotting Processes, such as: Risk Assessment Review and Liability Check.
- Commercial Contract Issue-Spotting Processes, such as: Business Term Review and Performance Requirement Check.
- Technical Contract Issue-Spotting Processes, such as: Specification Review and Deliverable Check.
- Compliance Contract Issue-Spotting Processes, such as: Regulatory Review and Policy Check.
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- Counter-Example(s):
- Contract Drafting Process (creating rather than analyzing)
- Contract Negotiation Process (resolving rather than identifying issues)
- General Legal Review (not contract-specific)
- See: Issue Spotting, Contract Analysis, Legal Review Process, Risk Assessment.