What is a ironclad contract?
An ironclad contract is unbreakable. An ironclad promise can be believed wholeheartedly. If you were arrested on ironclad charges, you’re going to be found guilty.
What is a contract lifecycle management system?
Contract lifecycle management (CLM) automates and streamlines contract processes during key stages. These stages include: initiation, authoring, process and workflow, negotiation and approval, execution, ongoing management and compliance (within the repository), and contract renewal.
What is ironclad used for?
Ironclads were warships designed to be impervious to enemy shot and shell by virtue of their iron-armored wooden hulls. Other names for these ships include rams, armorclads, iron gophers, iron elephants, iron coffins, turtle-backs, and mud-crushers.
What are the four contract life cycle processes?
Contract lifecycle management (CLM) solutions can streamline and automate the creation, negotiation, execution and storage of contracts across the organization.
How did ironclads float?
Gloire’s wooden hull was modelled on that of a steam ship of the line, reduced to one deck, sheathed in iron plates 4.5 inches (110 mm) thick. She was propelled by a steam engine, driving a single screw propeller for a speed of 13 knots (24 km/h).
What are the 4 essential elements of a valid contract?
The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality. In some states, element of consideration can be satisfied by a valid substitute.
What are CLM tools?
Contract lifecycle management (CLM) tools streamline the contracting process from start to finish, bringing benefits to both the pre-signature and post-signature phases of contracting and creating self-service opportunities for stakeholders.