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1. 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

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

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   May 25, 2021 · 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.

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

   • Publish Year: 2021

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

   www.worldcc.com › Portals › IACCM

   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,

5. en.wikipedia.org › wiki › Relational_contractRelational contract - Wikipedia

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   Relational contract theory is characterized by a view of contracts as relations rather than as discrete transactions (which, Macneil argued, [4] traditional “classical” or "neo-classical contract" theory treats contracts as being). Thus, even a simple transaction can properly be understood as involving a wider social and economic context.

6. www.lexology.com › library › detailRelational contracts: what are they and why do they matter?

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   Jul 8, 2019 · Relational contracts: key points. Relational contracts are typically long term agreements involving substantial mutual commitment and extensive cooperation and communication between the parties. A ...

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

   link.springer.com › content › pdf

   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

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   What is the difference between transactional and relational contracts?

   • A transactional contract views the parties as Econs while a relational contract treats the parties as Humans. The contracting practitioner needs to select one approach and stick with it. This chapter has explored the most important characteristics of transactional and relational contracts, comparing them across five dimensions.

   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 is the theory of relational contracts?

   • The theory of relational contracts is characterized by a view of contracts as relations rather than as discrete transactions. According to Macneil, this perspective treats contracts as involving a wider social and economic context, even for a simple transaction.

   Relational contract - Wikipedia

   en.wikipedia.org/wiki/relational_contract

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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

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

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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 is an example of a relational contract?

   • Informal relational contracts such as McDonald’s and the Royal Australian Navy’s FFG contract fall somewhere to the left of a formal relational contract as expressed to the right of the continuum. For example, the FFG contract does emphasize behavioral tenets—but does not explicitly include social norms as contractual obligations.

   A Comparison of Transactional and Relational Contract Models

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

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9. 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.