Manage contract disputes effectively with digital contract management
Maintain relationships during contractual disputes while improving the speed of recovery value when incidents occur.
Recovering costs and other compensation due to the actions of badly performing contracting parties can delay the progress of a project due to disagreements over scope. Due to the complex nature of some contracts, along with the multitude of stakeholders, issues can go unaddressed, although they violate agreed terms, such as SLAs, and quality is reduced since responsibility is not defined and there is no clear path for reporting incidents. Moreover, relationships with suppliers may be affected when a dispute is encountered as it may be difficult to understand the situation from the other party’s perspective.
Digital contract management improves visibility
A digital contract management solution can assist when managing the obligations of contracting parties by improving the visibility of agreed obligations and any needed follow-up actions for contract terms. Cloudia’s contract management solution helps your organization to maintain relationships during contractual disputes while improving the speed of recovery value, in real-time, when incidents occur.
How to handle claims in Cloudia’s contract management solution?
Cloudia Contract allows users to propose a contract claim quickly and efficiently, as soon as violations or disputes occur. Users can quickly build a factual and legal basis for a claim by highlighting the factors involved, clearly clarifying what damages have been incurred, along with clear indication of the contractual elements that enable the claim to progress. The burden of providing evidence is made easier by the easy and fast generation of claim documents and the capture of discussions between the parties involved.
The claims feature enables you to:
- Maintain relationships with suppliers by using transparent communication when issues are encountered and involve them as early as possible in the dispute management process.
- Improve chances for compensation for additional costs incurred by submitting a claim as when situations occur.
- Catalogue claims effectively by providing detailed information including relevant contract attachments and clauses, and retain a history of discussions with the other party.
- Ensure claims effective by using templates to document the key details of the dispute including dates, times, related products or services, warranties, images and photographs and more.
- Develop a shared understanding with the other party of and what the consequences should be under the contractual framework, and attain mutually accepted resolutions.
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