Contract Execution

Contract Execution

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You’ve identified the 3rd parties you want to work with. You’ve pinned down your desired outcomes and the outputs necessary to achieve them. You’ve collaborated, negotiated, and created a contract that works for everyone involved. Time to relax, right? Not quite. Before you can celebrate, you need to complete the most important part of the contract life cycle – you’ve got to execute it.

Contract execution is all about finalizing the agreement outlined in the contract. Without those formal signatures, it’s little more than a promise to proceed. And you definitely don’t want to put the success and reputation of your business on the strength of a promise. Understanding how to execute a contract properly will make sure that contract is legally binding and enforceable.

By the end of this course, you’ll be able to:

• Understand the 2 different definitions of contract execution
• Explain who is required to execute a contract
• Define signatory authority

Why take this course?

If a contract isn’t legally binding, there’s no guarantee that any of the terms laid out in it will be honored. That’s why anyone involved in negotiating and finalizing contracts needs to understand contract execution. This course will help you execute contracts, so you can be confident that all terms will be met.

10 mins | SCORM | Takeaway Tasks
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