Reciprocal NDA
A Reciprocal NDA is an agreement in which both parties keep each other's information confidential.
Redline
Redine refers to the process of marking changes and revisions in a contract. Redlining is commonly used during negotiations, and the tracked changes are often displayed in red to highlight modifications made to the original document.
Regulatory Compliance
Adherence to laws, regulations, and industry standards relevant to contract management activities.
Release of Liability Agreement
A Release of Liability Agreement is a legal document that absolves one party from liability for certain actions, risks, or events. It outlines the terms and conditions under which the releasing party agrees not to hold the other party responsible for specified matters.
Renewals
Contracts reaching the end of their term are either terminated or renewed based on organizational needs. CLM solutions can identify opportunities for contract renewal and initiates the renewal process.
Reporting and Analytics
Reporting and Analytics involves the use of tools and processes to generate insights and data visualizations related to contract management. This may include tracking contract performance, compliance, and other key metrics
Request for Information (RFI)
A Request for Information is a document used to gather information from potential vendors or suppliers about their capabilities, products, or services. It is often a preliminary step in the procurement process.
Request for Proposal (RFP)
A Request for Proposal is a document that solicits detailed proposals from potential vendors or contractors. It outlines the project requirements, evaluation criteria, and other information to facilitate the selection of the most suitable provider.