End-to-End Contract Lifecycle Workflow Process Model

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A End-to-End Contract Lifecycle Workflow Process Model is a end-to-end lifecycle workflow process model for an organization's end-to-end legal contract processs.



References

2024

2023

  • GPT-4
Start Contract Process
 v
Stage 1: Intake
 |--> Receive Request
 |--> Initial Requirement Gathering
 |--> Triage and Routing
 v
Stage 2: Draft (if contract will be on org’s own paper)
 |--> Pre-draft Research and Analysis
 |--> Identify Templates or Precedents
 |--> Draft Preliminary Version
 |--> Internal Review and Approval
 |--> Send to Counterparty
 v
Stage 3: Review (esp. of third-party paper)
 |--> Pre-review Research and Analysis
 |--> Identify Playbook, Templates, or Precedents
 |--> First-pass Review
 |--> “Redline” Agreement
 |--> Internal Review and Approval
 v
Stage 4: Negotiate
 |--> Send Proposed Revisions to Counterparty
 |--> Additional Counterparty Communications and Negotiations
 |--> Manage Revisions and Maintain Version Control
 |--> Review Counterparty Revisions
 |--> Accept or Reject Changes
 |--> Final Review, Approval, and Escalation
 v
Stage 5: Sign
 |--> Send for Signature
 |--> Authorization Validation
 v
Stage 6: Store and Manage
 |--> Document Storage
 |--> Data Extraction
 |--> Obligation Tracking
 |--> Audits and Reporting
 |--> Renewals, Amendments, and Terminations
 v
End

2023

  • https://contractlogix.com/contract-management/what-is-contract-workflow/
    • QUOTE:
    • Contract workflow entails the entire process of creating and executing a legal contract. Every organization’s contract workflow is unique, but all workflow falls into the same general pattern, as you’ll learn in this article.

      Key Takeaways

      • Contract workflow involves every step in the process of creating, executing, and managing contracts.
      • Contract workflows are used to follow the eight general steps of a contract’s lifecycle, starting with request and intake and ending with renewing or terminating expiring contracts.
      • Contract workflow can be made more efficient with the use of contract lifecycle management (CLM) software.
      • CLM software provides numerous benefits, including streamlining and automating the workflow, improving compliance, increasing speed, reducing errors, and reducing costs.
    • Contract Workflow Defined
      • Contract workflow is every activity an organization takes to create and legally execute a contract. Workflows can be defined for every step of the process, from inception and authoring through negotiation and approvals to execution and renewal or termination. Workflows are a key component of business process management and are designed to follow business rules to ensure compliance with an organization’s approved contracting processes.

2023

2023

  • https://www.pandadoc.com/blog/contract-workflow/
    • QUOTE:
    • Contract workflow is the process of managing a contract from the time it is created to the time it is completed.

      It might seem simple at first, but there are a lot of steps along the way to take a contract from inception to completion...

    • Developing the right contract workflow for your organization is a complicated dance that involves bringing together multiple people, customers, users, and departments to facilitate the progression of the contract from creation to signature.