The process by which contracts are drafted and negotiated is all too often dominated by the ‘noise’ of many less important issues, losing focus on the real business objectives. At Radiant Law, we believe that this process can be improved by identifying, ranking and prioritising objectives at the outset of any transaction and then placing those objectives at the heart of the contracting process. This leads to higher quality contracts that are fully aligned to business outcomes and that ultimately this leads to better contractual relationships.
We work with you at the very beginning of the transaction to identify, rank and document your objectives. We believe it is essential to focus as much, if not more, on opportunities under the transaction as the mitigation of risks.
We can propose and agree with you a strategy to show how the objectives can be delivered through the contract, the key priorities that need to be addressed in the contract and the extent to which they can easily be achieved against market standards.
We create a highly-tailored RFP and contract, based on the agreed strategy, which leads to more focused, shorter and more effective contract terms.
At the down-select stages, we work with you to identify the objectives that are most relevant to the decision and focus our review and reports on supplier responses based on the extent to which the supplier is able and willing to meet the objectives.
The negotiations are focused on achieving the objectives, with other issues treated as low priority if they don’t support an objective. Throughout the negotiation process we report on the status of open issues based on how they impact objectives.
On completion, we deliver an objectives-focused report showing how the objectives have been achieved in the negotiations represented in the final contract.
In addition to capturing deal objectives, the objectives and constraints relating to the contracting process are also captured.
Our analysis will show not only how we recommend addressing the objectives in the contract, but also identify where there may be tensions between achieving the best contractual outcomes requiring strong competitive leverage versus aggressive deal deadlines. We will work with you to find the right balance so that you are in control from the beginning of the play-offs that are inherent in these transactions.
We recognise that there are tensions between objectives, deal process objectives and what is generally achievable in the market. Our aim is to assist clients upfront to understand the art of the possible and help them prioritise objectives accordingly. This may lead to on-going adjustments in the objectives and we encourage clients to be open minded about that. Our advice is informed by deep experience and analysis of what has been achieved in many different deals, but we avoid making assumptions about what the market will bear on specific issues.