Thinking of outsourcing your contract services – It’s more than just cost savings

 Every law firm or a corporate require drafting of a good written contract that can help them stay in a privileged position than the other party. Many lawyers, in fact, argue that the law of contract is more powerful than the probably the constitution law of a country. Contract is in fact the “King” as many say and rules the world. If your contract is not drafted well or written efficiently then it can completely mess up your effort. Contract controls everything when you have a legally binding responsibility that you need to perform. Contract management services is therefore a niche service area which law firms and corporates outsource to only those LPOs and ALSPs that have experienced workforce. TLB has all the premium value adds that US, UK and Canadian attorneys and general counsels are looking for when it comes to choosing the best outsourcing partner from a sea of LPOs.

What Contracts are the best?

If you ask this question to any lawyer, there typical response would be it differs from case to case. After a proper due diligence, you know what the scope of the performance of a party is for that case. Sometimes, a particular case can have different contracts too. Accordingly, due care is taken to draft the contracts that take into consideration several factors. These factors can be external too. The essence of every contract is offer, acceptance, and promise that needs to be kept whatsoever. Even if it is not written, these are exclusive and binding on every party. However, if it is written well then it becomes way easier if any unavoidable dispute happens in the future. Every contract is thoroughly vetted by a licensed lawyer who has the knowledge of the laws in that jurisdiction so that it is an all-inclusive contract. Every contract needs many rounds of review to make sure the draft is the strongest for your client.

TLB contract team consists of practicing lawyers, that have practical experience of drafting contracts for various jurisdictions and for various law firms and corporates. They belong to top law schools in the world. The contract management services offered by TLB are therefore the best and is class apart than the other global LPOs.

Vetting the details of an outsourcing organization!

Curated services are the most in demand and LPOs do cater to them. However, is this enough for a law firm to outsource to an organization? You could sometimes be talking with an LPO that may not be truly doing business under the assumed name. It is extremely difficult to vet the details about the company and find out if their identity is correct or not. Finding the teams’ experience and the detail about the founders is even more challenging to find out remotely. Therefore, it is extremely important that your outsourcing partner has a secured video chat channel, and the team is also interviewed by you before taking the decision. TLB, goes an extra mile by proactively providing the LinkedIn profiles of all the team members, where you can even see the recommendations done by industry’s best for them. You can get access to track the work live at the pilot stage and even thereafter. A clear statement will be shared as to who is responsible for what job of who has the authority and how much authority they have while working upon your assignments. If you wish, you can interview all the team members too.

Scope of work!

TLB never provides anything vague with you to make you feel disillusioned. A proper set of plans are made, and specifications are shared which will categorically also include the excluded services, if you need that. This is a learning in fact that TLB has gathered from drafting thousands of contracts. All grounds will be covered in the contract services list that would incorporate all your instructions too.

The relevant onus that TLB takes:

While contract management services are not novel in the LPO industry, but TLB takes care of all the applicable laws while working on any assignment. TLB’s team has all the contingency plans in place which is also shared with the law firms and corporates. The critical details are included making sure your data is protected at every stage. TLB can manage end-to-end contract services as well as specific services too. During the pandemic, TLB worked further upon these to ensure backlogs are cleared for the law firms and the corporates at a record’s time. TLB’s team can also assist you at mediation stage or arbitration stage, aside from the regular services like, abstraction, drafting, vetting, negotiating, updating, maintaining, keeping a track of the SOLs and the amendments of the contracts. TLB’s team will always discuss the pros and cons with you to make sure, you are well-informed about your cases. The indemnity clauses are extremely tricky, and these are meticulously checked so you don’t agree to something without knowing the advantages and disadvantages.