Contract Templates

Standard contract templates are used by businesses when the same agreement is repeated with minimal changes, such as for the same service or product. Standardized or 'boilerplate' language that is found across most standard legal documents are often used.  

Contract management software is leveraged by legal teams to create and access contract templates and save time. Departments on both sides of a deal need to participate in the contracting process to ensure compliance with laws and regulations, as well as with internal company rules.

 

Partnership agreements, Indemnity agreements, Equipment leases, Non-disclosure agreements, Employment agreements and Independent contractor agreements are some common types of contract templates to consider.

Offer, Acceptance, Consideration, Capacity and Legality are five elements that must be present for contracts to be legally binding and enforceable.

Contracts are necessary to protect the parties that enter them and utilizing contract templates can help make the process easier. Less time spent drafting contracts, consistent clauses and language across agreements and potential for fewer redlines are some of the key benefits enterprises can expect from using contract templates.