Redline The Contract - Contracting For Consultants Video Tutorial

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From the course: Contracting for Consultants

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Redline the contract

From the course: Contracting for Consultants

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Redline the contract

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- After you review the contract carefully, you'll make your suggested edits. Usually this is done via redlining where edits are easily seen and tracked. It's proper contracting etiquette to not make changes without letting the other side know what change was made. Be sure you're using the track changes mode in your document software, and ask your client to do the same. There may be multiple rounds of redlining and accepting of edits, so be prepared for this step to take some time. When you find yourself going back and forth multiple times on a point in the contract, pick up the phone, or go meet in person to discuss the issue. Many times, they can be worked out more quickly and amicably than by sending documents with multiple layers of redlines back and forth. Every redline item is negotiable, so keep that in mind before you just accept changes without getting something in return for your concessions. At Thought Leaders, we had a major client where we were looking at the contract and…

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Contents

• Introduction Introduction
  • Welcome 1m 16s
  • Good consulting contracting techniques 1m 24s
  • Get legal counsel 1m 39s
• 1. Start the Contracting Process 1. Start the Contracting Process
  • (Locked) Use different types of major contracts 2m 47s
  • (Locked) Use different types of minor contracts 2m 48s
  • (Locked) Use a client's contracts versus your own 1m 12s
  • (Locked) Register as a supplier 2m 31s
  • (Locked) Know the players in the process 3m 8s
• 2. Understand Contract Elements 2. Understand Contract Elements
  • Set pricing terms 2m 3s
  • (Locked) Set payment terms 2m 57s
  • (Locked) Set contract term and termination 2m 39s
  • (Locked) Define warranties and liability 2m 13s
  • (Locked) Handle confidentiality and publicity 2m 5s
  • (Locked) Provide indemnification 1m 27s
  • (Locked) Establish deliverable ownership 3m 11s
  • (Locked) Cover insurance requirements 2m 55s
  • (Locked) Negotiate insurance requirements 1m 51s
  • (Locked) Manage miscellaneous contract provisions 3m 16s
• 3. Define Your Project 3. Define Your Project
  • How to use SOWs and task orders 1m 46s
  • (Locked) Scope the consulting engagement 2m 6s
  • (Locked) How to price consulting work 2m
  • (Locked) Get project acceptance and signoff 1m 54s
• 4. Negotiate the Contract 4. Negotiate the Contract
  • (Locked) Redline the contract 1m 41s
  • Negotiate major contract points 2m 19s
  • (Locked) Watch out for contract pricing issues 2m 40s
  • (Locked) Watch out for miscellaneous issues 2m 59s
  • (Locked) Helpful contracting tips 2m 53s
• Conclusion Conclusion
  • (Locked) Next steps 1m 18s

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