In the three years I have been in law, I have never seen a contract of more than seven or eight pages, and that involves quite complicated licensing agreements, stock options and several addendums. Read our legal contribution to the explanatory statement of agreements and practical issues here The GPA is a multi-lateral agreement, which means that it only engages WTO members who are parties and have therefore agreed to be linked to them. It currently has 20 parties, with 48 WTO members. These include five new contracting parties whose memberships became effective after the revised GPA came into force. Most agreements that are too long repeat essential terms. It is useless from a content point of view and only serves to add pages. If you see redundant provisions, eliminate them. One way to facilitate this is to consolidate similar provisions, so you won`t have to reintroduce those concepts later (i.e. all payment provisions are co-existing). It is easy to believe that all contracts are equal, but that is not true.
Your contract should meet the requirements of the transaction. What may apply to a complex software license agreement is probably not correct for a logo design contract. The most obvious advantage of a digital contract from a system is that the information is available immediately and in real time. It saves time to move it in together. It also means that everyone works with the same information. It is a unique source of truth. So I`ve made a short list of tips that will help you do that. If you follow these tips, you will get a manageable size of your contracts, which means you spend less time writing and your client actually reads what you present in front of you. With a little exercise, you can write your own chords that convey all the important points, but are not a blog. You increase the chances that your customers will read the contract completely and they will appreciate what allows you to have a customer for life. Most of these elements would be required for external use.
Some, such as the last 3 on the list, contract delivery tables, action items and collaborative comments, are more likely to be used internally. With R3, customers can have contract descriptions of different types. Some may have less or more information or are formatted differently. They`re all available in an instant. Your client will not be impressed by the fact that you were able to establish a 20-page agreement for the transaction. They are pissed, that she flew through all this material. According to a recent study, the average person can maintain their attention for eight seconds. EIGHT SECONDS! That`s barely enough time to finish this sentence! If you can`t say it on five or seven pages, ask yourself why.