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1. link.springer.com › chapter › 10A Comparison of Transactional and Relational Contract Models

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   May 25, 2021 · The best way to understand a relational contract is to compare it with a transactional contract across five dimensions: focus, relationship, social norms, risk mitigation, and planning. While other dimensions could be considered, these five dimensions highlight the greatest differences.

   • Contracting in The New Economy

     Contracting in the New Economy helps you to not only develop...

2. www.worldcc.com › Portals › IACCMUNPACKING RELATIONAL CONTRACTING - WorldCC

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   Oct 11, 2016 · relational contracts also explicitly describe joint governance processes within which the parties can work together to deal with risk and uncertainty. There is an undeniable and growing amount of research showing how and when relational contracts out-conventional transactional contracts perform in terms of cost advantages, time,

3. www.traverssmith.com › knowledge › knowledgeRelational contracts: what are they and why do they matter?

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   Jul 8, 2019 · Relational contracts are typically long term agreements involving substantial mutual commitment and extensive cooperation and communication between the parties. A finding that a contract is relational: can have significant impact on how the contract is interpreted, making it more difficult to rely on a very narrow, strict construction; and

4. link.springer.com › content › pdfA Comparison of Transactional and Relational Contract Models

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   The main subject of this book is the relational contract. As we have seen with McDonald’s, the Royal Australian Navy, and Island Health there is no one-size-fits-all relational contract. Rather relational contracts fall along a continuum from informal to formal (Fig. 7.1). Fig. 7.1Relational contracting continuum

   • Author: David Frydlinger, Kate Vitasek, Jim Bergman, Tim Cummins

   • Publish Year: 2021

5. www.lexisnexis.com › community › insightsWhat Is A Relational Contract And How It Benefits - LexisNexis

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   Apr 26, 2024 · Higher Degree of Trust: Parties signing up for a relational contract must have a higher level of trust, whereas a transactional contract is not based on belief. Length of the Relationship : Transactional contracts are usually built for one specific transaction or multiple similar transactions, whereas a relational contract is built to create a long-term cooperative relationship.

6. ideas.repec.org › h › sprA Comparison of Transactional and Relational Contract Models

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   In this chapter, A Comparison of Transactional and Relational Contract Models, the focus shifts to one’s decision whether to pursue a relational or transactional model. This chapter addresses the main differences between the two ends of the spectrum—transactional versus relational contracts—with an emphasis on five dimensions: focus, relationship, social norms, risk mitigation, and planning.

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   What is the difference between transactional contracts and relational contracts?

   • Also, a discussion is given to an additional key differentiator: transactional contracts view the parties as economic forces, while relational contracts view the parties as human beings. Emphasis is made that the models are not binary, the picture and decision are not black or white. Each dimension exists across a continuum.

   A Comparison of Transactional and Relational Contract Models - IDEAS/…

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   What is a relational contract?

   • In a relational contract, the parties deliberately embed their commercial relationship into a social relationship based on social norms, which is converted into contractual norms. Proven norms (also known as guiding principles) include those of reciprocity, autonomy, honesty, loyalty, equity, and integrity—all of which are described in Chapter 14.

   A Comparison of Transactional and Relational Contract Models

   link.springer.com/chapter/10.1007/978-3-030-65099-5_7

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   Is a transactional contract fair?

   • A transactional contract may be rigid but still very fair. The main subject of this book is the relational contract. As we have seen with McDonald’s, the Royal Australian Navy, and Island Health there is no one-size-fits-all relational contract. Rather relational contracts fall along a continuum from informal to formal (Fig. 7.1).

   A Comparison of Transactional and Relational Contract Models

   link.springer.com/chapter/10.1007/978-3-030-65099-5_7

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   Are contracts transactional?

   • World Commerce & Contracting research indicates the vast majority of contracts are transactional. 1 While many organizations set out to have a strategic relationship, they often fall back on conventional approaches, policies, and standard contract templates when it comes time to negotiate and launch the relationship on paper.

   A Comparison of Transactional and Relational Contract Models

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   What is the difference between a transactional and relational contract drafter?

   • The ambition of the transactional contract drafter is to make a complete plan. In contrast, the relational contract drafter uses a flexible framework within which the parties can adjust their plans to continually align with the dynamic nature of business. Consider the underlying challenge in how organizations plan through their contracting.

   A Comparison of Transactional and Relational Contract Models

   link.springer.com/chapter/10.1007/978-3-030-65099-5_7

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   What are the five dimensions of a relational contract?

   • The best way to understand a relational contract is to compare it with a transactional contract across five dimensions: focus, relationship, social norms, risk mitigation, and planning. While other dimensions could be considered, these five dimensions highlight the greatest differences.

   A Comparison of Transactional and Relational Contract Models

   link.springer.com/chapter/10.1007/978-3-030-65099-5_7

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8. www.researchgate.net › publication › 351831673_AA Comparison of Transactional and Relational Contract Models

   www.researchgate.net › publication › 351831673_A

   May 25, 2021 · This chapter addresses the main differences between the two ends of the spectrum—transactional versus relational contracts—with an emphasis on five dimensions: focus, relationship, social ...