How To Get Legal To Approve End of Quarter Sales
As the end of the year approaches, it's not uncommon for buyers to raise objections about getting deals done in a timely manner. One common objection is that the legal team is out for the holidays and redlining the contract won't be possible until next week. While this may seem like a roadblock, there is a solution that can benefit both parties.
Two Tips to Help Legal Approve Contracts
First and foremost, it's important to make sure that the material terms of the contract have been agreed upon by both parties. This includes the price, number of users, and length of the contract. These terms are typically the most important and are the foundation of the deal. Without agreement on these terms, it can be difficult to move forward with the contract.
Once the material terms have been established, it's possible to move forward with the contract, even if the legal team is out for the holidays. One solution is to have the buyer sign the contract with an effective date of 12/31, but with language that the terms of service will be mutually agreed upon by 1/6/23. This allows both legal teams time to review and redline the terms of service next week, while still allowing your company to recognize the deal and revenue in 2022. It also ensures that the buyer receives their discount or any other incentives that are tied to a signed contract by 12/31.
Of course, it's important to make sure that both legal teams are comfortable with this approach. In many cases, they are willing to work with this solution in order to get the deal done and move forward. It's always a good idea to have open and honest communication with the legal team to make sure everyone is on the same page and understands the potential risks and benefits of this approach.
By finding a way to close the deal this week, both parties can benefit – your company gets to recognize the revenue, and the buyer gets their incentives. It's a win-win situation that can help both parties start the new year off on the right foot.
In conclusion, while the end of the year can present challenges in getting deals done, it's important to remember that there are often solutions available. By working together and finding creative ways to overcome obstacles, both parties can benefit and move forward with a successful deal.
Happy closing and check out Seamless AI if you need the best sales software to help you close more deals.
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