{"id":8382,"date":"2023-06-07T14:24:01","date_gmt":"2023-06-07T14:24:01","guid":{"rendered":"https:\/\/signdesk.com\/in\/?p=8382"},"modified":"2025-09-17T07:17:05","modified_gmt":"2025-09-17T12:47:05","slug":"contract-creation","status":"publish","type":"post","link":"https:\/\/melento.ai\/en-in\/blog\/contract-creation","title":{"rendered":"Contract Creation Through CLM &#8211; Everything You Need To Know"},"content":{"rendered":"<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-8395\" src=\"https:\/\/melento.ai\/en-in\/blog\/wp-content\/uploads\/2023\/06\/Contract-Creation-Through-CLM-Everything-You-Need-To-Know.jpg\" alt=\"contract creation\" width=\"1604\" height=\"750\" \/><\/h2>\n<h2><span style=\"color: #008000;\"><b>A Brief Introduction To Contract Creation On CLM<\/b><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"font-weight: 400; color: #000000;\"><strong>Contract creation<\/strong> is of utmost importance for business organizations as it establishes legal protection, defines rights and responsibilities, manages risks, ensures clarity in business relationships, and provides a framework for successful collaboration. Contracts serve as the foundation for business agreements, outlining key terms, obligations &amp; expectations, and help mitigate potential conflicts or misunderstandings.\u00a0<\/span><\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/what-is-clm-and-how-it-works\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Contract lifecycle management software<\/span><\/a><span style=\"font-weight: 400;\"> offers features such as templates, clause libraries, and collaborative editing to simplify <strong>contract creation<\/strong>. It allows organizations to efficiently draft, review, and manage contracts in a centralized digital environment.<\/span><\/span><\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"font-weight: 400; color: #000000;\">Business organizations and <strong><a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/legal-contract-management-software-clm\" target=\"_blank\" rel=\"noopener\">legal firms can use CLM software<\/a><\/strong> to draft comprehensive regulatory contracts and customize agreements as required. <a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/clm\/\"><strong>CLM software<\/strong><\/a> enables seamless collaboration among legal team members and other stakeholders involved in the contract approval process, by speeding up drafting and negotiations.\u00a0<\/span><\/p>\n<h2><span style=\"color: #008000;\"><b>What Is A Contract?<\/b><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">A <a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/contract-meaning\" target=\"_blank\" rel=\"noopener\">contract<\/a> is \u201can agreement enforceable by law\u201d between two or more mutually agreeing parties according to the <\/span><a style=\"color: #000000;\" href=\"https:\/\/www.indiacode.nic.in\/bitstream\/123456789\/2187\/2\/A187209.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Indian Contract Act<\/span><\/a><span style=\"font-weight: 400;\">, 1872 under its section 2 (h). The terms of a contract specify certain legally enforceable rights and obligations with clearly defined penalties and remedies if the contract is breached.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"font-weight: 400; color: #000000;\">A legally binding contract doesn\u2019t stand only on verbal promises but also on written evidence of contractual obligations and agreed-upon terms. Contracts are intended to protect the rights and interests of the parties involved and provide a framework for resolving disputes or conflicts that may arise during the course of the agreement. If a dispute arises, the case is presented before a court of law, and the original agreement is reviewed to resolve the issue.<\/span><\/p>\n<h2><span style=\"color: #008000;\"><b>Elements Of Contract Creation\u00a0<\/b><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-8396\" src=\"https:\/\/melento.ai\/en-in\/blog\/wp-content\/uploads\/2023\/06\/Elements-Of-Contract-Creation.jpg\" alt=\"elements of contract creation\" width=\"1604\" height=\"750\" \/><\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">Section 10 of the<\/span><span style=\"font-weight: 400;\"> Indian Contract Act, 1872, <\/span><span style=\"font-weight: 400;\">enumerates the key elements that <strong>make a valid contract<\/strong> as follows:<\/span><\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Offer: <span style=\"font-weight: 400;\">An explicit offer is a promise by one party to another, expressing the willingness to enter into a contract under specific terms and conditions.\u00a0<\/span><\/b><\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><strong>Intention:<\/strong> <span style=\"font-weight: 400;\">Both parties should be willing to carry out the contract till the end and have the Intention to create a legal relationship.<\/span><\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><strong>Acceptance:<\/strong> <span style=\"font-weight: 400;\">Acceptance is the act of agreeing to the offer. The offer must clearly state the terms to be proven in the event of a dispute.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><strong>Lawful Consideration:<\/strong> <span style=\"font-weight: 400;\">Consideration is the crucial element in the case of a <a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/breach-of-contracts\" target=\"_blank\" rel=\"noopener\">breach of contract<\/a>. It determines the nature of compensation, such as money, equity, or acts of service that is exchanged between the parties as part of the contract. Consideration should not be forbidden by law.\u00a0<\/span><\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><strong>Mutuality:<\/strong> <span style=\"font-weight: 400;\">Two parties mutually agree to the obligations of the contracts. Both parties need to participate equally for successful contract execution.<\/span><\/span><\/li>\n<li aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><strong>Competency:<\/strong> <span style=\"font-weight: 400;\">Both parties should be of legal age and have the mental competence to comprehend the nature and consequences of the contract they are entering into and be responsible for performing contractual obligations and withstand the consequences if disputes arise.\u00a0<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Legal formalities:<\/b> <span style=\"font-weight: 400;\">The contract&#8217;s purpose and the actions or obligations outlined in the contract must be legal and not contrary to public policy or prohibited by law. Contracts involving illegal activities, fraud, or that violate laws or regulations are generally unenforceable.\u00a0<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Consent:<\/b> <span style=\"font-weight: 400;\">Consent implies that both parties willingly and voluntarily enter into the contract without any form of coercion, fraud, misrepresentation, or duress. Each party should have a clear understanding of the terms and implications of the contract.<\/span><\/span><\/li>\n<\/ul>\n<h2><span style=\"color: #008000;\"><b>Types Of Contracts &#8211; Explained\u00a0<\/b><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">The<\/span><a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/types-of-contracts\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\"> types of contracts<\/span><\/a><span style=\"font-weight: 400;\"> are based broadly on different categories. These main categories of contracts are classified according to the formation, nature, execution, validity, management &amp; services.<\/span><\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Formation-based contracts<\/b> <span style=\"font-weight: 400;\">&#8211; These types of contracts are classified based on the mode of formation and further divided into four different sub-categories \u2013<\/span><\/span>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Implied Contracts:<\/b><span style=\"font-weight: 400;\"> Legally binding obligations resulting from actions, behavior, or circumstances rather than explicit agreement.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Express Contracts:<\/b><span style=\"font-weight: 400;\"> Agreements where all terms are explicitly agreed upon in writing or verbally at the time of contract formation.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Quasi-Contracts:<\/b><span style=\"font-weight: 400;\"> Retrospective contracts created by a judge to remedy situations where one party gains at the expense of another, despite no prior agreement between them.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b><a href=\"https:\/\/melento.ai\/en-in\/blog\/what-are-the-different-types-of-electronic-contracts\">Electronic Contracts<\/a>:<\/b><span style=\"font-weight: 400;\"> Contracts created using electronic methods like email, telephone, or digital signatures, leveraging technology for contract formation.<\/span><\/span><\/li>\n<\/ol>\n<\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Nature &amp; consideration-based contracts<\/b><span style=\"font-weight: 400;\"> &#8211; <\/span><span style=\"font-weight: 400;\">Contract classification in this category when their nature is varied and unique to the parties involved.<\/span><\/span>\n<ol>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Unilateral Contracts:<\/b><span style=\"font-weight: 400;\"> One party agrees to pay or perform based on the occurrence of a specific action by the other party.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Bilateral Contracts:<\/b><span style=\"font-weight: 400;\"> Mutually agreed contractual agreements where both parties exchange proposals and agreements, forming a two-sided contract.<\/span><\/span><\/li>\n<\/ol>\n<\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Execution-based contracts <\/b><span style=\"font-weight: 400;\">&#8211;<\/span><span style=\"font-weight: 400;\"> The timeline for the fulfillment of the commitment should be taken into account for execution-based contracts.<\/span><\/span>\n<ol>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Executory Contracts:<\/b><span style=\"font-weight: 400;\"> Agreements where both parties have ongoing performance obligations or unfulfilled duties, such as leases or contracts for sale with pending payments or deliveries.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Executed Contracts:<\/b><span style=\"font-weight: 400;\"> Signed agreements that establish a business relationship between parties, with each party obligated to fulfill the agreed-upon duties once the contract is fully executed.<\/span><\/span><\/li>\n<\/ol>\n<\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Validity-based contracts &#8211; <\/b><span style=\"font-weight: 400;\">Validity-based contracts are founded on legal ramifications.<\/span><\/span>\n<ol>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Valid Contracts:<\/b><span style=\"font-weight: 400;\"> Legally enforceable agreements that comply with the requirements stated in the Indian Contracts Act of 1872, including parties&#8217; legal capacity, consideration, lawful purpose, and absence of express invalidation.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Void Contracts:<\/b><span style=\"font-weight: 400;\"> Agreements that were initially valid but have become void due to modifications to essential terms. They lack legal obligations or rights and cannot be enforced by any party.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Voidable Contracts:<\/b><span style=\"font-weight: 400;\"> Agreements that are enforceable by law at the discretion of one or more parties, while the other party has the option to reject or accept the contract&#8217;s conditions, typically due to factors like minority or incapacity.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Unforceable Contracts:<\/b><span style=\"font-weight: 400;\"> Contracts that do not meet necessary legal requirements but may become enforceable after rectifying technical errors or fulfilling legal prerequisites.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Illegal Contracts:<\/b><span style=\"font-weight: 400;\"> Contracts that violate laws or public policy. They differ from void contracts as they are only unenforceable by courts, whereas illegal contracts involve consideration prohibited by law.<\/span><\/span><\/li>\n<\/ol>\n<\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Contracts in Project Management &#8211;<\/b><span style=\"font-weight: 400;\"> Without proper contracts any project is incomplete. There are many varieties of contracts based on project management.<\/span><\/span>\n<ol>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Fixed Price Contracts:<\/b><span style=\"font-weight: 400;\"> Agreements with a predetermined price for a clearly specified scope of work, suitable when requirements and risks are well understood.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Time and Material Contracts:<\/b><span style=\"font-weight: 400;\"> Commonly used contracts for routine purchase of items, where the organization selects a vendor based on capacity and experience, and negotiates and pays for the supplies.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Cost Reimbursable Contracts:<\/b><span style=\"font-weight: 400;\"> Contracts where the buyer covers the seller&#8217;s actual costs along with a surcharge or profit, typically involving pre-determined charges and reimbursement of actual expenses.<\/span><\/span><\/li>\n<\/ol>\n<\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Service Contracts &#8211; <\/b><span style=\"font-weight: 400;\">There are contracts based on services.<\/span><\/span>\n<ol>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Termination Contracts:<\/b><span style=\"font-weight: 400;\"> Combination of time and materials with a limit, reducing client risk more than fixed-price contracts<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Retention Contracts:<\/b><span style=\"font-weight: 400;\"> Upfront payment for services within a predetermined timeframe, commonly used in professional services with short turnaround times<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Recurring Subscription Contracts:<\/b><span style=\"font-weight: 400;\"> Monthly fee for ongoing deliverables, expanding professional services firms&#8217; product offerings.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Managed Services Contracts:<\/b><span style=\"font-weight: 400;\"> Contracts focused on delivering specific services over an extended period, used by professional services organizations and consulting firms.<\/span><\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<h2><span style=\"color: #008000;\"><b>Types Of Contracts\u00a0<\/b><\/span><\/h2>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center;\"><span style=\"color: #000000;\"><strong>Categories<\/strong><\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"color: #000000;\"><strong>Sub-categories<\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000000;\">Formation-based Contracts<\/span><\/td>\n<td>\n<ul>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Implied Contracts<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Express Contracts<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Quasi Contracts<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">E-Contracts<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000000;\">Nature &amp; Consideration-based Contracts<\/span><\/td>\n<td>\n<ul>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Unilateral Contracts<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Bilateral Contracts<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\">Execution-based Contracts<\/span><\/td>\n<td>\n<ul>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Executory Contracts<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Executed Contracts<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\">Validity-based Contracts<\/span><\/td>\n<td>\n<ul>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Valid Contracts<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Void Contracts<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Voidable Contracts<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Unforceable Contracts<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Illegal Contracts<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000000;\">Contracts in Project Management<\/span><\/td>\n<td>\n<ul>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Fixed Price Contracts<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Time &amp; Material Contracts<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Cost Reimbursable Contracts<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000000;\">Service Contracts<\/span><\/td>\n<td>\n<ul>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Termination Contracts<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Retention Contracts<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Recurring Subscription Contracts<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Managed Services Contracts<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span style=\"color: #008000;\"><b>Drafting Challenges<\/b><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\"><strong>Contract creation<\/strong> involves<\/span><a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/challenges-in-contract-management\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\"> several challenges<\/span><\/a><span style=\"font-weight: 400;\"> when businesses rely on traditional paper-based workflows. These obstacles make workflows such as onboarding and document execution inefficient and error-prone.<\/span><\/span><\/p>\n<ul>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"color: #000000;\"><b>Ambiguity:<\/b><span style=\"font-weight: 400;\"> Contract terms should always be clearly stated. Failing to draft a robust contract leads to ambiguity and prone to misinterpretations.\u00a0<\/span><\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"color: #000000;\"><b>Incomplete or Misinformation:<\/b><span style=\"font-weight: 400;\"> Obtaining complete and accurate information from all parties involved in the contract can be a challenge, which may lead to incomplete or inaccurate contract terms.<\/span><\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"color: #000000;\"><b>High Expenses:<\/b> <span style=\"font-weight: 400;\">Businesses relying on paper-based workflows usually find that the operational and maintenance costs for managing numerous physical documents, delivery, and storage are too high.<\/span><\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"color: #000000;\"><b>Risk Assessment:<\/b> <span style=\"font-weight: 400;\">Identifying and addressing potential risks and liabilities in contract terms can be challenging. It requires a thorough understanding of the business context, industry practices, and potential future scenarios.<\/span><\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"color: #000000;\"><b>Manual Errors:<\/b> <span style=\"font-weight: 400;\">Entering data and filling forms in the offline or semi-offline mode often causes manual errors, mistyping, and misinterpretations that affect operations.<\/span><\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"color: #000000;\"><b>Legal Requirements:<\/b> <span style=\"font-weight: 400;\">Contracts must comply with applicable laws, regulations, and industry standards, which can vary across jurisdictions. Staying up-to-date with legal requirements and ensuring compliance can be challenging, especially for complex contracts or international agreements.<\/span><\/span><\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/clm\/talk-to-sales\" target=\"_blank\" rel=\"noopener\"><button class=\"wpcf7-form-control wpcf7-submit envor-btn envor-btn-primary envor-btn-normal\" type=\"button\"><strong>Switch To CLM (Free)<\/strong><\/button><\/a><\/span><\/p>\n<h2><span style=\"color: #008000;\"><b>Steps To Create A Contract On Smart CLM<\/b><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">Throughout the <strong>contract creation<\/strong> workflow, milestones are monitored from drafting to execution and renewal. Contract creator software expedites <a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/guide-on-contract-automation-software\">contract automation<\/a> while helping businesses ensure regulatory compliance.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"font-weight: 400; color: #000000;\"><strong>Contract generation<\/strong> can be completed using a smart <strong>CLM tool<\/strong> on a single digital platform.<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Step 1: Request a Contract &#8211; <span style=\"font-weight: 400;\">The initial stage of the contract creation process is contract request. In this phase, important information such as the purpose of the contract, crucial dates, time, and milestones of the contract is acquired to commence the contract creation after checking the eligibility and verifying the uploaded data.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/b><\/span><\/li>\n<li aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Step 2: Draft an Agreement &#8211; <span style=\"font-weight: 400;\">Contract creation can be done either by the initiator or the team members in three different ways.<\/span><\/b><\/span>\n<ol>\n<li aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\">Compose: The user can compose the content of the contract from the scratch as per their choice with a personal approach.<\/span><\/li>\n<li aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\">Templates: The user can use an existing template from the choices listed or search for the appropriate template in the search bar to create the document for the agreement for normal agreement purposes.<\/span><\/li>\n<li aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">Upload an agreement: The user can upload a file in their preferred format for the agreement document.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/span><\/li>\n<\/ol>\n<p><span style=\"color: #000000;\">The contract must state its content, purpose, terms &amp; conditions, all relevant information about payment, non-liability clauses, implementation process, termination and renewal process, use of contract data, compliance regulations, dispute resolution clauses, consequential terms, use of signatures and designated parties, and other services.<\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Step 3: Review Clauses <\/b><b>&#8211; <\/b><span style=\"font-weight: 400;\">In this editing phase, the user can review the contract in case of error or remodification with features like text formatting and highlighting certain sections, locking, adding comments, clause library, and inserting and filling tokens to edit the document and edit. All the contract activities can be checked through the activity tracker and stored in the data history of the contract.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Step 4: Obtain Approval <\/b><b>&#8211;<\/b> <span style=\"font-weight: 400;\">After contract generation, the parties are invited to approve the contract.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Step 5: Negotiate Terms &amp; Clauses<\/b><b> &#8211;<\/b> <span style=\"font-weight: 400;\">In this stage, the document is shared with the other party for collaboration to negotiate the terms and conditions of the contract. The other party goes through the document and suggests altering the contract clauses in the <a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/contract-negotiation\" target=\"_blank\" rel=\"noopener\">negotiation process<\/a>. After the necessary negotiation cycles, the two parties conclude, the initiator accepts, and the other party adds the signer drawing a closure to the negotiation process. <\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Step 6: Sign the Contract &#8211; <\/b><span style=\"font-weight: 400;\">Smart contract creator software enables efficient eSigning by adding Aadhaar details, setting time limits for signatures, and directing signers to the online agreement signing page. Signers are verified through OTP-based Aadhaar authentication on the NSDL portal. Signatures are affixed, and the agreement is executed. Simple OTP signatures are also available as an option.<\/span><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"font-weight: 400; color: #000000;\">After successful <a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/signing-of-contracts\" target=\"_blank\" rel=\"noopener\">e-signing of the contract<\/a>, the signatures of the signers are affixed to the document. The agreement takes effect and <strong>contract creation<\/strong> is properly executed.<\/span><\/p>\n<h2><span style=\"color: #008000;\"><b>Workflow For Contract Creation<\/b><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-8398\" src=\"https:\/\/melento.ai\/en-in\/blog\/wp-content\/uploads\/2023\/06\/Workflow-Of-Contract-Creation.jpg\" alt=\"contract creation software\" width=\"1604\" height=\"750\" \/><\/p>\n<h2><span style=\"color: #008000;\"><b>Post Contract Execution Workflow For Contract Management<\/b><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"font-weight: 400; color: #000000;\">A proper <a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/clm\/\" target=\"_blank\" rel=\"noopener\">contract management system<\/a> has extended features to assure <strong>contract creation<\/strong> from scratch to renewal or expiry keeping customer data secure, tracking contract status and providing automated updates about milestone obligations. <\/span><\/p>\n<ul>\n<li style=\"font-weight: 400; text-align: justify; font-size: 17px; font-family: 'open sans';\" aria-level=\"1\"><span style=\"color: #000000;\"><b>Storage &#8211;<\/b> <span style=\"font-weight: 400;\">Each contract is stored in a highly secured central repository powered by cloud computing technology and managed with regulations under GDPR compliance. With a proper repository, the contracts and user databases are safe eliminating physical paper loss or damage risks.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/span><\/li>\n<li aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Maintaining Audits &#8211;<span style=\"font-weight: 400;\"> Smart <a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/what-is-clm-and-how-it-works\" target=\"_blank\" rel=\"noopener\">CLM<\/a> enables automated audit trails, facilitating oversight of transactions for activities like account opening, client onboarding, and vendor verification. Maintaining contract audits through the CLM system lowers risks of revenue loss and ensures comprehensive transaction tracking.<\/span><\/b><\/span><\/li>\n<li aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Contract Analysis &amp; Tracking &#8211; <span style=\"font-weight: 400;\">The<strong> <a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/what-is-clm-and-how-it-works\" target=\"_blank\" rel=\"noopener\">contract lifecycle management<\/a> system<\/strong> provides performance insights based on retrieved contract data and helps track contract activity &amp; milestones to enable streamlined governance.\u00a0<\/span><\/b><\/span><\/li>\n<li aria-level=\"1\"><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Renewals &amp; Expiry<\/b><b> &#8211; <\/b>After the <a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/termination-of-contract\" target=\"_blank\" rel=\"noopener\">termination of a contract<\/a>, the parties have the option to renew the contract. Contract lifecycle management software sends out custom notifications when specified contracts are about to expire for timely renewal.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/clm\/talk-to-sales\" target=\"_blank\" rel=\"noopener\"><button class=\"wpcf7-form-control wpcf7-submit envor-btn envor-btn-primary envor-btn-normal\" type=\"button\"><strong>Get CLM Software<\/strong><\/button><\/a><\/span><\/p>\n<h2><span style=\"color: #008000;\"><b>An Overview Of Best Practices For Contract Creation<\/b><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">While drafting centralized contracts, it is important to follow certain practices.<\/span><\/span><\/p>\n<ul>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Centralized Agreements<\/b><span style=\"font-weight: 400;\">: <\/span><span style=\"font-weight: 400;\">Standard contract drafting has a few specific elements such as &#8211;<\/span><\/span>\n<ol>\n<li><span style=\"font-weight: 400; color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\">Clearly define the parties involved and their roles. <\/span><\/li>\n<li><span style=\"font-weight: 400; color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\">Specify the scope and purpose of the agreement to avoid misunderstandings. <\/span><\/li>\n<li><span style=\"font-weight: 400; color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\">Include essential terms such as obligations, payment terms, and timelines, using clear and precise language. <\/span><\/li>\n<li><span style=\"font-weight: 400; color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\">Address potential risks and disputes by including provisions for risk mitigation and dispute resolution. <\/span><\/li>\n<li><span style=\"font-weight: 400; color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\">Incorporate termination or exit clauses to define the conditions under which the agreement can be terminated. <\/span><\/li>\n<li><span style=\"font-weight: 400; color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\">Ensure confidentiality and non-disclosure clauses are in place to protect sensitive information. It is crucial to ensure compliance with applicable laws and regulations, seeking professional advice if needed. <\/span><\/li>\n<\/ol>\n<\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Tracking Contract Status<\/b><span style=\"font-weight: 400;\"> &#8211; <\/span><span style=\"font-weight: 400;\">To effectively manage contracts, it is essential to track their status in every stage of contract lifecycle, assess and monitor associated risks, conduct regular compliance reviews and revise agreements to adapt to changing circumstances and maintain their effectiveness.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Transparent &amp; Secured Digital Platform<\/b><span style=\"font-weight: 400;\"> &#8211;<\/span><span style=\"font-weight: 400;\"> The <a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/what-is-clm-and-how-it-works\" target=\"_blank\" rel=\"noopener\">CLM platform<\/a> offers a transparent and secured environment, ensuring data security and providing a seamless omni-channel experience.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Compliant Contract Management &#8211; <\/b><span style=\"font-weight: 400;\">By incorporating regulatory requirements into <strong>contract creation<\/strong>, organizations can mitigate legal risks, establish stronger contractual relationships, and promote trust and compliance within their operations.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Mobile friendly Integrated APIs &#8211; <\/b><span style=\"font-weight: 400;\">A mobile-friendly platform with integrated APIs simplifies contract creation by providing accessibility, real-time collaboration, data accuracy, streamlined workflows, and enhanced integration capabilities with other systems and tools.<\/span><\/span><\/li>\n<\/ul>\n<h2><span style=\"color: #008000;\"><b>Experience Smart Contract Creation With CLM &#8211; Key Features<\/b><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"font-weight: 400; color: #000000;\">Our <strong><a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/contract-management-software\" target=\"_blank\" rel=\"noopener\">contract lifecycle management<\/a><\/strong> system offers a range of smart features that streamline and enhance the process of <strong>contract creation<\/strong>. These features leverage AI-powered advanced technologies and automation to improve efficiency, accuracy, and collaboration throughout the contract lifecycle.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-8397\" src=\"https:\/\/melento.ai\/en-in\/blog\/wp-content\/uploads\/2023\/06\/Experience-Smart-Contract-Creation-With-CLM-Key-Features.jpg\" alt=\"contract creator software\" width=\"1604\" height=\"750\" \/><\/p>\n<ul>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Online Negotiation &amp; Collaboration<\/b><span style=\"font-weight: 400;\"> &#8211; Parties can digitally negotiate terms and clauses of contracts in real-time and collaborate with each other conveniently.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>E-Sign &amp; E-Stamp Integration<\/b><span style=\"font-weight: 400;\"> &#8211; Integrated eSign and eStamp tools can help parties eSign and eStamp documents online to expedite the documentation processes.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Tokenization<\/b><span style=\"font-weight: 400;\"> &#8211; Reserve slots and space to the concerned party enabling them to edit and add preferred details in the contract. <\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Clause Locking &amp; Template Library<\/b><span style=\"font-weight: 400;\"> &#8211; Clause locking feature helps parties to define non-negotiable clauses &amp; prevent editing. Parties can draft contracts automatically with the help of template library.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Centralized Contract Repository<\/b><span style=\"font-weight: 400;\"> &#8211; A highly secured centralized repository solution powered by cloud computing technology safeguards customer data, allows businesses to retrieve &amp; renew documents in much less time. It enables seamless collaboration, expedited contract tracking, &amp; faster contract amendments. Centralized contract storage with smart clause retrieval also boosts a business\u2019 audit efficiency by nearly 60%.<\/span><\/span><\/li>\n<\/ul>\n<h2><span style=\"color: #008000;\"><b>The Advantages Of Implementing Contract Lifecycle Management<\/b><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"font-weight: 400; color: #000000;\"><strong>Contract creation software<\/strong> allows organizations to unlock the full potential of their contracts and maximize their value as strategic assets. Implementing <strong>Contract Lifecycle Management<\/strong> can provide organizations with a competitive edge by optimizing their <a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/contract-management-software\">contract management software<\/a> practices.<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Better Customer Experience &#8211;<\/b><span style=\"font-weight: 400;\"> Streamlined automation, personalized customer support, responsive communication, and efficient <a href=\"https:\/\/melento.ai\/en-in\/blog\/commercial-contract\">commercial contract<\/a> management resolution contribute to a better customer experience, seamless digital onboarding journey fostering satisfaction, loyalty, and positive brand perception.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Easy Remote Access &#8211; <\/b><span style=\"font-weight: 400;\">Seamless remote access enables convenient and secure connectivity, empowering customers to access their resources and perform contractual obligations remotely with ease, enhancing productivity and flexibility regardless of geographical location. <\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Mitigated Risk &#8211; <\/b><span style=\"font-weight: 400;\">Enhanced data security safeguards sensitive information, maintains customer trust, prevents data breaches, ensures regulatory compliance, and mitigates financial and reputational risks.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Enhanced Visibility &#8211; <\/b><span style=\"font-weight: 400;\">With smart tracking, it\u2019s easy for clients to monitor contract status in every stage and manage milestone and obligations tracking without missing a single deadline.<\/span><\/span><\/li>\n<li><span style=\"color: #000000; text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>Efficient Contract Execution &#8211; <\/b><span style=\"font-weight: 400;\">Streamlined contract execution management improves organizational productivity, minimizes delays and disputes, enhances financial performance, and strengthens relationships with stakeholders, leading to overall operational effectiveness and competitive advantage.<\/span><\/span><\/li>\n<\/ul>\n<h2><span style=\"color: #008000;\"><b>Streamline Contract Creation With Melento (Formerly SignDesk)\u2019s Automated CLM Platform<\/b><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/signdesk.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Melento (Formerly SignDesk)<\/span><\/a><span style=\"font-weight: 400;\"> is an award-winning SaaS-based solution provider that offers AI-powered digital solutions. <\/span><a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/clm\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Contract Lifecycle Management<\/span><\/a><span style=\"font-weight: 400;\"> is one of the smart solutions that help create and manage contracts from drafting to renewals with integrated eSign and eStamp tools.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"font-weight: 400; color: #000000;\">Melento (Formerly SignDesk)\u2019s contract creator software helps businesses by streamlining bulk <strong>contract creation<\/strong> under regulatory framework with instant &amp; ready-to-use templatized <a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/agreement-vs-contract\">agreement and contract<\/a> including clause locking and clause library features for any type of contracts an<a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/essential-elements-of-a-contract\"> essential element of a contract<\/a> management.<\/span><\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"font-weight: 400; color: #000000;\">Create contract online and leverage our integrated <strong>contract lifecycle management<\/strong> system for secure and fast business documentation.\u00a0including efficient <a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/how-to-review-a-contract\">contract review<\/a> processes<\/span><\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"font-weight: 400; color: #000000;\">To learn more about how our <strong><a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/what-is-clm-and-how-it-works\" target=\"_blank\" rel=\"noopener\">contract lifecycle management<\/a><\/strong> system can expedite <strong>contracts<\/strong>, contact one of our solution consultants today.<\/span><\/p>\n<p style=\"font-size: 17px; font-family: 'open sans'; text-align: center;\"><span style=\"font-weight: 400; color: #000000;\"><strong>Get a free trial now!<\/strong><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/melento.ai\/en-in\/clm\/talk-to-sales\" target=\"_blank\" rel=\"noopener\"><button class=\"wpcf7-form-control wpcf7-submit envor-btn envor-btn-primary envor-btn-normal\" type=\"button\"><strong>Book a Demo<\/strong><\/button><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Brief Introduction To Contract Creation On CLM Contract creation is of utmost importance for business organizations as it establishes legal protection, defines rights and responsibilities, manages risks, ensures clarity in business relationships, and provides a framework for successful collaboration. Contracts serve as the foundation for business agreements, outlining key terms, obligations &amp; expectations, and [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":8395,"comment_status":"open","ping_status":"closed","sticky":false,"template":"page_templates\/blog-new-3.php","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[9],"tags":[323,333,384,385,392,397,408,474,475,1307,1329,1554,1716],"class_list":["post-8382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-clm","tag-clm","tag-clm-software","tag-contract-creation","tag-contract-creator-software","tag-contract-generation","tag-contract-lifecycle-management","tag-contract-management-software","tag-create-a-contract","tag-create-contract-online","tag-how-to-make-a-contract-agreement","tag-how-to-write-a-contract-agreement","tag-make-a-contract","tag-online-agreement-maker"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - 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