Contracting needs to be customer-centric, technology-friendly and process-conscious to succeed in the current tech age. Customer-centric Customer-centric contracts are ones which are simple to read, understand and use, and provided as part of a simple, clear process to convert a prospect into a raving fan! We all know the frustrations
Studies estimate that the vast majority – 70% – of friction points occur before your contract is signed (Deloitte article)… assuming it is ever signed! Why does this matter? It means a company is losing money, losing customers, and burdened with unnecessary admin during the contracting process. Streamlining contracting can
On the front flap of A New Approach to the Standard Form of Building Contract (which refers to the 1963 RIBA form), the publishers say: By the nature of its legal terminology and complex provisions, [the form] is extremely difficult to apply in everyday practice without constant advice The book
What do we want? Legal revolution. When do we want it? Um…. now? The LawTech Report 2021 confirms that technology is ‘an enabler of fundamental change in the frontline delivery of legal and court services, and a mechanism for doing things differently, setting new standards, and importantly, putting user outcomes
The UK Government’s Construction Playbook has 14 key policies for reforming and modernising aspects of public sector projects (and perhaps, with luck and trickle down, the private sector too). However, it will need some robust contract tools to bring those ideas to fruition. In a series of posts, I consider
The technology to allow parties to a contract to sign, execute, witness and complete contracts without leaving their home office is not new. However, with nearly 50% of the UK working from home, the time for electronic or digital signatures is ripe. Rather than considering the relative merits of the
The 2020 pandemic is increasing the speed of digital change in construction. At a LetsBuild webinar two-thirds of respondents said that the pandemic would accelerate increased digitalisation and investment in technology. As ‘Digital by Default: Construction After Covid-19‘ notes: …rapid change is the reality of the current COVID-19 crisis –
I have been researching how other countries are adapting to digital contracting. In Sweden, Skye Contracts promote contracting based on: They are interested in tremendous templates, clarity of thinking, data-driven decision-making as well as using processes that work for your business. As they state in their e-book: The new world
Let’s be clear, taking a contract that is not fit for purpose and digitising it will not magically create a smooth, effective contracting process. It is not about the technology. Digital contracts are legal. But they also need to be simple – contracts should be read, understood and used. Online
Although most contracts do not need to be signed to be effective (and legally binding), guarantees are an exception. The 1677 Statute of Frauds requires all guarantees to be: in writing (or a note of memo of it is in writing) signed by the guarantor. This distinction means oral guarantees
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