Alcove’s Legal Process Outsourcing
Contracts Drafting, Reviews and Management
Many law departments cannot devote sufficient resources to draft, review, and manage contracts. Aside from creating the perception of poor service among business clients within the corporation, the gap between demand for lawyers and supply creates risk. Examples of risk include:
- Unapproved contract changes can create unwanted obligations
- Proliferation in language variations may increase the chances of inadvertent breaches
- Key dates for renewal or price escalation may be missed
Contract management software only goes so far; law departments simply need more human resources. Alcove helps companies solve this problem by providing dedicated teams of outsourced lawyers, onshore or offshore.
Our lawyers allow law departments to expand the scope of their service while also lowering costs by as much as 50%. We work with clients to define requirements, establish drafting and review standards and ensure you are comfortable with all processes and staffing. Working with our dedicated teams of offshore lawyers offers you many benefits;
- Smooth workflow: Our work-flow software makes it easy to submit and review contracts. We maintain a database of all submissions, any changes and a complete audit trail.
- Lower Costs: Our offshore lawyers help you save expenses by 50%.
- Confidentiality & Continuous Operations: Our delivery centers are housed in world-class facilities world-class security features. We use a combination of physical and virtual measures to protect your data. Our back-up systems ensure continuous operations.
- Manage Rights and Obligations: We help you manage contracts by summarizing executed contracts, identifying key terms and dates, and populating or creating a database.
- Better Service to In-house Clients and Lower Risk: Our global delivery teams can provide coverage around the clock. With faster turnaround times, business people are more likely to submit contracts for review. We free up in-house lawyers to focus on managing higher risk contracts.
- Improve In-house Lawyer Morale: In-house lawyers will no longer be buried under a mountain of contracts requests so their job satisfaction improves. This can reduce your turnover in critical in-house legal positions.
We offer the following contracts drafting, review and management services;
- Creating contracts based on approved client templates;
- Standardizing client contract forms, and templates across the organization
- Preparing contracts based on approved templates and managing the life cycle of the contract till it’s signed
- Review of third party redlines of client’s form contracts;
- Review of third party markups of client’s standard form contracts
- Review is completed by accepting changes based on client’s approved positions, and informing the clients of changes that are not acceptable
- Review and redline of third party forms;
- Review of third party forms and preparing markups based knowledge of client’s risk profile and client’s approved negotiation positions
- This information is updated in a dynamic client manual (approved by the client)
- Drafting Partner;
- Drafting partner services for Attorneys to assist them in their ongoing contracts work and handling all overflow drafting work
For further information or a service requirement/price quote, please contact us
