Contract Review or Preparation Request Form

by Practical Law Commercial Transactions

A Standard Document providing a sample intake form for employees to use when requesting that in-house counsel review or prepare a commercial contract. This Standard Document is designed to help the legal department more efficiently manage the contract process by requiring employees to gather necessary information and approvals before submitting a request. The form gathers key details such as internal business unit information, counterparty background, and a summary of essential contract terms, including obligations, payment details, and timelines. It also helps clarify the division of responsibilities, confirming that the business unit approves the business terms while the legal department reviews the legal terms. This Standard Document can be customized to align with an organization's specific policies, such as its contract review and signature authority policies, and can be used to trigger due diligence processes related to counterparties. This Standard Document has integrated notes with important explanations and drafting tips.