It is essential for every company to have three key documents related to contracts:
1) Templates (separate post)
2) Exhibits (separate post)
3) Playbooks
I’ve attached a free downloadable sample: contract playbook
Playbooks
These provide a list of standard clauses that can be used to redline vendor contracts. They are applicable when vendors insist on using their templates.
Playbooks streamline the process of redlining vendor templates by providing a list of clauses that can be inserted into the contract. They have similar advantages as templates.
Playbooks should be exhaustive and clear. They should provide necessary terms that might be applicable and should provide clear instructions on when they are applicable. They should provide favorable, one-sided terms along with balanced terms, both of which can be used during contract negotiations while keeping the process efficient. Similar to templates, these should also evolve through iterations based on learnings from vendor negotiations and changes in internal expectations.
procurement simplified 