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Ok that is a long and fiddly [[metaphor]]. Let us now — sigh — tear ourselves away from Leo Fender’s wonderful creation, and apply the metaphor to the process of preparing, executing and performing a commercial contract. | Ok that is a long and fiddly [[metaphor]]. Let us now — sigh — tear ourselves away from Leo Fender’s wonderful creation, and apply the metaphor to the process of preparing, executing and performing a commercial contract. | ||
[[ | Who are the interested constituencies when it comes to the production and use of contracts? It is not just Party A and Party B: it isn’t ''even'' Party A and Party B, if we take the JC]]’s cynical line that each is merely a husk: a host — a static entry in a commercial register somewhere — unless and until animated its ''[[agent]]s''. | ||
The constituents who have an interest in a contract being done are those in Sales, Legal, Credit, Docs, Operations, Risk, and Trading — on each side of the table — and their external advisors. We see their interests: what they want out of the contract itself, are wildly different: | |||
*'''[[Sales]]''': To Sales, a contract should be a tool for ''[[persuasion]]'': it should induce the customer to think happy thoughts about her principal — okay, fat chance with a legal contract, but a gal can dream — but at the very least it should be no less intimidating a document than is being presented by her competitors to the same client. Sales will be specially tuned to the message that [[all our other counterparties have agreed this]] should legal or credit baulk at a client request, and will hammer this imperative home, as often as not prevailing. | |||
*'''[[Legal]]''': | |||
*'''[[Credit]]''': | |||
*'''[[Documentation unit|Docs]]''': | |||
*'''[[Trading]]''': | |||
*'''[[Risk]]''': | |||
{{ref}} | {{ref}} | ||