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

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   A relational contract is a contract whose effect is based upon a relationship of trust between the parties. The explicit terms of a relational contract are an outline: implicit terms and understandings that determine the behaviour of the parties. Relational contract theory was originally developed in the United States by the legal scholars Ian ...

2. 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.

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

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   Apr 26, 2024 · As the name suggests, a relational contract is a legal contract built to form a long-term relationship between two or more parties. It helps create better understanding and expectations between collaborators, along with mutual principles and goals. Commonly built for business partnerships, joint ventures or suppliers, relational contracts focus ...

4. golab.bsg.ox.ac.uk › the-basics › relational-contractingRelational contracting - The Government Outcomes Lab

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   Relational contracting is partly a response to the risk of providers opportunistically taking advantage of one another. It emphasises trust-building mechanisms, rather than relying on the transfer of risk and threat of litigation, which is the ultimate recourse in a conventional contract should one party misbehave.

5. farorelaw.co.uk › insights › relational-contractsRelational Contracts – what are they and why do they matter?

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   Jan 11, 2024 · The contract in question involves a high degree of communication, cooperation and predictable performance based on mutual trust and confidence and loyalty. There may be a degree of significant investment by one party or both in the venture. Exclusivity of the relationship may also be present. None of the features above are determinative, save ...

6. www.lexology.com › library › detailRelational 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 ...

7. People also ask

   What is a relational contract?

   • A relational contract is a contract whose effect is based on a relationship of trust between the parties. The explicit terms of such a contract serve as an outline, with implicit terms and understandings determining the behavior of the parties.

   Relational contract - Wikipedia

   en.wikipedia.org/wiki/relational_contract

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   What are the explicit terms of a relational contract?

   • The explicit terms of a relational contract are an outline of the terms and understandings that determine the behavior of the parties. Relational contract theory was originally developed in the United States by the legal scholars Ian Roderick Macneil and Stewart Macaulay.

   Relational contract - Wikipedia

   en.wikipedia.org/wiki/relational_contract

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   How do you create a relational contract?

   • Crafting a formal relational contract involves five steps: laying the foundation, cocreating a shared vision and objectives, adopting guiding principles, aligning expectations and interests, and creating systems for staying aligned.

   A New Approach to Contracts - Harvard Business Review

   hbr.org/2019/09/a-new-approach-to-contracts

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   Is relational contracting appropriate?

   • Practitioners have observed that a ‘transactional’ approach to contracting may not always be appropriate. Fortunately, an alternative – relational contracting – has been well-researched and applied in the private sector. However, there has been less work on its use in grants and contracts involving government or public bodies.

   Relational contracting - The Government Outcomes Lab

   golab.bsg.ox.ac.uk/the-basics/relational-contracting/

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   What is'relational contracting'?

   • Stewart Macaulay, one of the first to observe and name ‘relational contracting’ in the mid-twentieth century, famously quoted a contract manager who stated that, “You can settle any dispute if you keep the lawyers and accountants out of it" (Macaulay 1963, p. 61). These ‘relational’ behaviours are present to some degree in all contracts.

   Relational contracting - The Government Outcomes Lab

   golab.bsg.ox.ac.uk/the-basics/relational-contracting/

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   What is the difference between transactional and relational contracts?

   • Shared Goals: When two or more parties sign a relational contract, they decide upon a series of combined goals. On the other hand, transactional contracts only include specific give-and-take agreements.

   What Is A Relational Contract And How It Benefits - LexisNexis

   www.lexisnexis.com/community/insights/legal/counsellink/b/counsellink/posts/relational-contract-and-benefits

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8. hbr.org › 2019 › 09A New Approach to Contracts - Harvard Business Review

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   Crafting a formal relational contract involves five steps: laying the foundation, cocreating a shared vision and objectives, adopting guiding principles, aligning expectations and interests, and ...