Pub. 14 2019-2020 Issue 3

WWW.NEBANKERS.ORG 12 COUNSELOR’S CORNER Nine Bold Rules to Get the Most out of Your Contracting Process (Part 2 of 2) Bryan Handlos, Kutak Rock LLP C ONTRACTS ARE OVERRATED. IN NINE CASES OUT OF TEN YOU will be able to resolve problems with your business partners based on your business relationship and practical leverage with them. If the problem is seri- ous, litigators will be involved anyway and the court systemwill provide an efficient way to sort the problem out. A good litigator will often be able to find creative ways around poor contracts. In any event, most contracts will never be looked at again once they are signed. Given these truths, what is the best approach to your contracting process? Most importantly, how can you save money and improve your bottom line? The “Rules” that follow reflect a bold non-legal approach to that subject. Editor’s note: The observations above and the Rules that follow should be questioned. Some of the author’s statements are exaggerated for effect. Perhaps the author has even taken a tongue-in-cheek approach with some very slight good-natured humor being intended (although nothing in this article is in- tended to disrespect the viewpoints expressed in the Rules). “Editor’s notes” are presented to offer potentially better ap- proaches – think "point-counterpoint" or "myth vs. reality." Rule 5. Force your contract team to complete their work in as constrained a time frame as possible Projects expand to the time allowed for them. Manage this by setting a short time frame to complete the contract. Work can usually be done more quickly if it needs to be. A sense of urgency is needed and some reasonable deadline is necessary or the contracting process will drag on more than necessary. "Sarcasm I now see to be, in general, the language of the Devil; for which reason I have long since as good as renounced it." Thomas Carlyle, Sartor Restartus, II, 4 1