02/10/2022, 00:44 T e Of C ac - Sig De k

Wha A e The Di e en T e Of Con ac ?

In od c ion
A con ac i an enfo ceable legal a angemen ha e abli he , de ail , and eg la e
d ie of he a ie . The an fe of commodi ie , e ice , mone o a omi e o
ho e a a la e ime a e common com onen of con ac . The Indian Con

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02/10/2022, 00:44 T e Of C ac - Sig De k

(h ://legi la i e.go .in/ i e /defa l / le /A1872-09. df) Sec ion 2(h) de ne a Co

a angemen enfo ceable b la .

The Indian Con ac Ac of 1872 eci e he e i emen ha m be me fo a

ecogni ed legi ima e. The e con i of:

O e ing and Acce ance

F ee e mi ion
Vol me
Legi ima e con ide a ion

The e e i emen a e de igned o en e ha he o a ie en e ing in o a con

ano he a e of legal age, ha e he nece a ca aci , and a e ac ing f eel and la f ll
m al o con ain an o e and a e i able me hod of acce ing i .

In o he o d , an hing ha i a legall binding ag eemen fall nde he de ni ion

Con ac a ef he di ided in o di e en ca ego ie ba ed on hei o e and nee

Table of Con en

1. Con ac in B ine La

1.1 Fo ma ion Ba ed Con ac

1.1.1 Im lied Con ac

1.1.2 E e Con ac
1.1.3 Q a i Con ac
1.1.4 E-Con ac

1.2 Na e & Con ide a ion Ba ed Con ac

1.2.1 Unila e al Con ac

1.2.2 Bila e al Con ac
1.3 E ec ion Ba ed Con ac

1.3.1 E ec o Con ac
1.3.2 E ec ed Con ac
1.4 Validi Ba ed Con ac

1.4.1 Valid Con ac

1.4.2 Void Con ac
1.4.3 Voidable Con ac
1.4.4 Unfo ceable Con ac
1.4.5 Illegal Con ac

2. Con ac In P ojec Managemen

2.1 Fi ed P ice Con ac

2.2 Time and Ma e ial Con ac

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2.3 Co Reimb able Con ac

3. Con ac In Se ice

3.1 Te mina ion Con ac

3.2 Re en ion Con ac
3.3 Rec ing S b c i ion Con ac
3.4 Managed Se ice Con ac

T e Of Con ac In B ine La
The e of con ac in b ine nde he Indian Con ac Ac a e ba ed b oadl on
ca ego ie . The e main ca ego ie of con ac a e cla i ed acco ding o fo m
e ec ion & alidi .

1. Fo ma ion-ba ed con ac
2. Na e & con ide a ion-ba ed con ac
3. E ec ion-ba ed con ac
4. Validi -ba ed con ac

Each of he e con ac ca ego ie can be f he di ided in o b-ca ego ie .

Fo ma ion Ba ed Con ac
The e e of con ac a e cla i ed ba ed on he mode of fo ma ion and f he di
di e en b-ca ego ie

1. Im lied Con ac A legall -binding obliga ion ha e l f om he ac ion ,

ci c m ance of one o mo e a ie o a con ac al ag eemen i kno n a
con ac .
2. E e Con ac An e e con ac i one in hich all of he e m ha e been
b he a ie a he momen he ag eemen a made in i ing o in e bal mod
3. Q a i-Con ac The Q a i-Con ac i a con ac be een o a ie ha i e
na e. The e a e no io ie be een he a ie in hi kind of con ac . A j dge
emed i a ion hen one a gain ome hing a he e en e of he o he a
4. E-Con ac Con ac ha a e c ea ed ing elec onic, c be , o elec onic da a
me hod a e efe ed o a e-con ac . Email, ele hone, and mo e ecen l digi a
a e ool ha hel c ea e an elec onic con ac .

Con ac Ba ed On Na e & Con ide a ion

Con ac cla i ca ion in hi ca ego hen hei na ei a ied and ni e o he a
B oadl eaking, he can be ca ego i ed a
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1. Unila e al Con ac In he e e of con ac , an ag eemen i made he e on

o a a ce ain amo n onl af e he occ ence of an ac ion. S ch con ac
ca ied o if he con ac omi e i ke b he o he a .
2. Bila e al Con ac The e a e con ac al ag eemen he e bo h a ie make
ha m al. A a e l , he a ie in ol ed a e e abli hed, and he con
h o gh he e change of o o al and ag eemen . The e ag eemen , of en k
ided con ac , a e he mo ical e of con ac ed oda .

E ec ion Ba ed Con ac
The e a e con ac ha ma be ca ied o in acco dance i h ime. The imeline fo
of he commi men ho ld be aken in o acco n fo e ec ion-ba ed con ac .
cla i ed ba ed on e iod of ime can be di ided in o he follo ing ca ego ie :

1. E ec o Con ac A con ac al ag eemen he e bo h a ie ha e ongoing

e i emen o hen he e a e nf l lled d ie on bo h ide . Fo in ance, h
lea e and con ac fo he ale of commodi ie in hich he b e ha no made
a men and he endo ha no deli e ed he od c a e e ec o con ac .
2. E ec ed Con ac A igned ag eemen ha c ea e a b ine ela ion hi be
mo e a ie i kno n a an e ec ed ag eemen . Each a omi e o h
d ie ag eed on i hin he i en ag eemen once he con ac i f ll e ec e

Validi Ba ed Con ac
The e e of con ac a e fo nded on legal ami ca ion . The e of legal con a
ca ego a e:

1. Valid Con ac Acco ding o he de ni ion of a alid con ac , i i a deal ha i le

enfo ceable. A con ac m com l i h ec ion 10 of he Indian Con ac Ac of
o be enfo ceable. The Indian Con ac Ac of 1872 Sec ion 10 ae ha all ag e
con ide ed o be con ac if he a e f eel en e ed in o b a ie ho a e legall
o, a e fo med fo legal con ide a ion, ha e a legal o e, and a e no e e l
b hi decla a ion.
2. Void Con ac Sec ion 2(j) of he Indian Con ac Ac of 1872
(h ://indiankanoon.o g/doc/1222363/#: : e =F ee%20fo %20one%20mon h%2
(j)%20A%20con ac %20 hich%20cea e ,i %20cea e %20 o%20be%20enfo ceable
oid con ac . A oid con ac a o iginall a alid con ac , b a a e l of mod
made o ome of he o iginal e m , i i no oid. A oid con ac ha no obliga io
conce and canno be enfo ced b an a . E en if bo h a ie ag ee, he e ag
illegal and canno be held.

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3. Voidable Con ac An ag eemen ha i enfo ceable b la a he di c e ion of o

of he a ie in ol ed b no a he o ion of he o he i aid o ende a con a
Sim l , he e m of he con ac m be binding on a lea one of he a ie
a , ho migh be a mino o em o a il nable o en e in o a con ac fo o he
no bo nd b i and i f ee o ejec o acce i condi ion . The ag eemen i oid
decide o eno nce i .
4. Unfo ceable Con ac If a con ac doe no ai f he nece a legal e i em
enfo ceable. Af e f l lling he e e i emen , hich icall ake he fo m of ec
a con ac of hi kind can be enfo ced.
5. Illegal Con ac Acco ding o ec ion 23 of he ac , a con ac ma be oid o illeg
i e med illegal if i iola e ome la o i in con ic ih blic olic . An illegal c
di e en f om a oid one. The e e of ag eemen a e he one ha he la onl
he co ill no enfo ce if i i made, a o o ed o an illegal con ac , ho e con
ohibi ed b he la .

Con ac In P ojec Managemen

An ojec i incom le e i ho con ac ha de ail he obliga ion be een one o
The e of ag eemen in ojec managemen a e:

1. Fi ed P ice Con ac When he c i e ia fo he o k a e nde ood and he co

i clea l eci ed, ed ice con ac a e ed. The endo i e ec ed o
ice o a ion fo he ag eed co e of o k once he co e ha been o e l
e a ing a ed ice o a ion, he elle m be a a e of bo h he ojec
and all a ocia ed i k ha co ld a i e d ing he ojec . A a e l , he elle
ca able and ma e eno gh o a an a e ice deal.
2. Time and Ma e ial Con ac Time and ma e ial con ac a ea e common
ha a e ed fo he o ine cha e of common i em . In mo ca e he e ime
con ac a e ed, he o gani a ion ill choo e i efe ed endo ba ed on i
e e ience. The ice fo he lie ill hen be nego ia ed and aid.
3. Co Reimb able Con ac In a co - eimb able con ac , he b e co
elle eal co l a cha ge o o . The e e of con ac ill all
e a ae a men fo o com onen . The cha ged amo n i icall
he ea he ac al e en e i ef nded a i occ .

The abo e-men ioned e of con ac can al o be cla i ed in o ca ego ie of

con ac . A e ice con ac i an ag eemen be een a com an and he clien o c
e e. The e m and condi ion of he e ice he com an ill o e a e de

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doc men .

T e Of Se ice Con ac
A a f om he one men ioned abo e, he e of con ac ha e i in e ice a e

1. Te mina ion Con ac A No To E ceed (NTE) con ac i a combina ion of a ime

con ac and a ed ice con ac . The e con ac a angemen , al o kno n
ma e ial i h a limi , a e in ended o ed ce he clien e o e o i k e en
ed- ice con ac .
2. Re en ion Con ac Re aine a ea in a a ie of ofe ional e ice
incl ding con l ing a angemen . Re aine a ef e en l ed in he con e o
e ice hen ho na o nd ime a e e i ed and he com le ion ime
emain nkno n. A e aine -ba ed ag eemen e m migh a g ea l , b i
ene i ha he clien ill a a ede e mined m f on in e change fo ece
i hin a ede e mined ime f ame.
3. Rec ing S b c i ion Con ac A ofe ional e ice m ima od
e ol ing o incl de b c i ion-ba ed e ice . A b c i ion model ma be e
PSO, de ending on he e ice i o ide . Clien ill a a eg la mon hl fee
deli e able nde hi e of a angemen .
4. Managed Se ice Con ac Managed e ice con ac a e inc ea ingl b
con en ional ofe ional e ice o gani a ion and con l ing m . In he
e ice o ide (MSP ) o e ed managed e ice ag eemen ha e e cen e ed
a a ic la le el of e ice o e a o ac ed leng h of ime.

Con ac Lifec cle Managemen : A One S o Sol ion

The jo ne of a con ac , f om i ini ial d a gh h o gh i nal e ec ion oced
he con ac lifec cle. The oce of o e eeing and o imi ing he lifec cle of con
con ac lifec cle managemen .

In he con e of con ac , a life c cle i a model ed o com ehend and ca ego i

n me o age . The con ac lifec cle jo ne a ih bmi ing a e e fo
incl de all im o an ha e of a con ac , ch a e ec ion, acking, in elligence, an

The e in ol ed in a oma ed con ac lifec cle managemen a e:

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02/10/2022, 00:44 T e Of C ac - Sig De k

Ini ia ion A con ac i e e ed and a igned o a membe of he legal e

e e a e acked on a ma da hboa d.
A ho ing Cla e and em la e lib a ie a e ed o d af legall alid con ac .
Nego ia ion Once he con ac been a o ed, a ie a e in i ed o digi all
e m of he con ac . Pa ie make and acce gge ion o nego ia e, and
main ained b eco ding commen and gge ion hi o ie .
Signing The a ie e ec e he con ac ing digi al igna e . A igna e
gene a ed and can be ed o e if he igne . The igned con ac i hen agged
a ea chable cen al e o i o he e i can be acce ed b onl eci ed e .
Pe fo mance The con ac i e fo med and b bo h a ie , con ac e fo ma
ing ma anal ic and ed a a ool fo i k managemen and im o ed deci io
Rene al A oma ed ale a e en o ele an e info ming hem hen a con
e i eo fo ene al.

Ho Doe Con ac Lifec cle Managemen S eamlin

B ine Con ac P oce e ?
The eld of con ac lifec cle managemen (h :// ignde k.com/in/clm/ ha -i -c
o k ) ha een a igni can change ecen l . N me o con ac , each a a di e e
con ac lifec cle, m be j ggled a once b o gani a ion of all i e . To a
com an need and he digi al en i onmen , he m con in o l e al a e and
con ac - ela ed oce e .
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O gani a ion a e no im lemen ing a oma ed con ac o k o ha enable in ell

and i al con ac coo e a ion o o e come he e di c l ie . Con ac lifec cle
(h :// ignde k.com/in/clm/7- coming-con ac -lifec cle-managemen - end )be
al a changing, i h inno a ion a hei co e.

An o gani a ion ma moni o and con ol each age a con ac goe h o gh i

con ac lifec cle managemen .

He e a e ome a ha b ine e migh e e ec i e CL

(h :// ignde k.com/in/clm/ ha -i -clm-and-ho -i - o k ) o add e con ac ing i

U ili e cla e agging, cen ali ed con ac o age, and con ac anal ic o
con ac ing oce .
U ing em la e lib a ie , AI-enabled cla e gge ion , and a oma ed con ac
ed ce he n mbe of man al a k and de endencie in ol ed in con ac oce i
U ing a oma ed ene al , e fo mance acking, and be e con ac a
eamline he e and o - igna e ha e .
Im o ed collabo a ion be een he legal and ale de a men ill hel o ho
he e ie and nego ia ion oced e.
U ili ing calable load & eSign oced e , eSigna e connec ion , and a i a
e edi e con ac e ec ion and im o e a di e cienc

CONTR.ACT: SignDe k To al Con ac Lifec cle Mana

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