Company Policy For Reviewing And Approving Contracts (Legal Review)
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
📝 Contract review policyBusiness activity
Review and approve contractsA contract review policy is a policy that requires all contracts to be reviewed by a designated individual or department within an organization prior to being signed. This policy helps to ensure that all contracts are in compliance with applicable laws and regulations, and that they are fair and reasonable.
The template starts by defining the purpose and scope of the policy, emphasizing the importance of a thorough and systematic contract review process. It highlights the requirement for legal expertise and involvement in evaluating the terms and clauses of all contracts entered into by the company.
The policies outlined in the template cover various aspects of contract review and approval. It clarifies the roles and responsibilities of different stakeholders, such as legal, procurement, and executive teams, ensuring clear lines of communication and decision-making. The template further addresses factors to consider when determining the appropriate level of legal scrutiny for different types of contracts, highlighting the significance of contract value, complexity, and potential legal implications.
The document also outlines the steps involved in the contract review process, including the submission and tracking of contracts, legal review timelines, and the necessary documentation and records to maintain. It emphasizes the need for collaboration between departments to streamline the process and facilitate efficient contract management.
Additionally, the template may incorporate clauses related to standard contract terms, risk assessment, confidentiality, dispute resolution, and compliance with relevant legislation and industry standards. These clauses serve as a guide for legal teams to ensure that all contracts align with the company's policies and legal requirements.
By implementing this template, companies can establish a comprehensive policy framework that promotes legal compliance, risk mitigation, and consistency in their contract review and approval processes. This in turn enhances the organization's ability to safeguard its interests, protect against potential disputes, and maintain legal and regulatory compliance under UK law.
How it works
Try using Genie's Free AI Legal Assistant
Generate quality, formatted contracts with AI
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
Let our Legal AI make edits for you
Ask Genie to edit your document in the same way you’d ask a paralegal. Genie makes track changes, and explains its thinking just like a junior lawyer would.
AI review
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
Book your personalised demo now
Similar legal templates
Technical Writer Contract
This Technical Writer contract template is designed for a commercial technical writing organisation (or an individual technical writer) to use when contracting out their skills and services in exchange for payment. This contract sets out the type of technical writing and technical-writing-related services to be completed by the technical writer on behalf of the client, with consideration for expectations around quality and delivery timescales, as well as any mitigating circumstances. This contract allows for payment to be made by the client to the technical writing firm or individual technical writer on a weekly or monthly basis but can easily be edited to account for other payment schedules and could be altered to include bonuses conditional on performance. It can also be fully customised with the details of the two parties and the duration of the contract and can be printed, downloaded and edited freely as part of our mission to open source business legals. This is a template for contractors who fit outside of the UK's off-payroll working rules (IR35).
Publisher
Genie AIJurisdiction
England and WalesTax Covenant
This template typically covers essential aspects, such as identifying the specific taxes applicable to the transaction, addressing potential tax liabilities, apportioning tax obligations between the parties, and setting out the mechanisms for handling any tax-related disputes or discrepancies. It may also detail the responsibilities and obligations of both parties concerning tax compliance, reporting, and disclosure requirements.
In addition, the Tax Covenant template may outline specific warranties, representations, and indemnification provisions related to tax matters. These provisions serve to protect the interests of both parties, ensuring that neither party intentionally misrepresents their tax position to the other and that the appropriate party compensates for any tax-related losses, costs, or penalties incurred.
Furthermore, this legal template may include provisions related to the potential disclosure of tax-related information and the confidentiality of such information. The document may also specify any restrictions on the party's ability to make tax planning decisions or take specific actions that could affect their tax position during the term of the agreement.
Overall, the Tax Covenant under UK Law legal template acts as a safeguard for both parties involved in a transaction, ensuring clarity and transparency regarding tax obligations and liabilities. It provides a structured framework to address potential tax issues, minimize uncertainties, and foster compliance with the UK tax legislation, thereby promoting a smooth and legally sound business transaction.
Publisher
Genie AIJurisdiction
England and WalesSubstantial Transaction (Board Minutes)
Incorporating a comprehensive description of the transaction, the template typically includes details regarding the nature, purpose, and importance of the transaction. It outlines the key terms, conditions, and monetary figures involved, providing a clear understanding of the transaction's impact on the company.
Additionally, the template typically documents the board's deliberations, ensuring the decision-making process is well-documented. This includes recording any presentations, analyses, or reports considered during the meeting that contributed to the board's ultimate decision. The minutes also note important discussions, concerns, and potential risks identified by the board members.
Furthermore, the template may contain resolutions passed by the board, documenting the actions or approvals required for the transaction to proceed. This could involve authorizing the negotiation and execution of contracts, approving financing arrangements, or granting any necessary authorities to key individuals involved.
The Substantial Transaction (Board Minutes) legal template is designed to be flexible, allowing for customization based on the specific transaction and the requirements of the company and its shareholders. It serves as a vital document for future references, audits, and legal compliances, ensuring transparency and accountability in corporate decision-making.
