Redline Contract Definition
A redline contract is a type of agreement in which one party outlines proposed changes to the contract in red ink, while the other party can either accept or reject the changes. This type of negotiation is often used when two parties are trying to reach an agreement on a new contract, or when one party is trying to modify an existing contract.
Redline contracts can be helpful in situations where both parties want to make sure that they understand and agree to the changes being proposed. However, they can also lead to frustration and delays if one party repeatedly rejects the other party’s proposals. In some cases, it may be necessary to bring in a third party mediator to help resolve disagreements.
