This produces losses and generates the need to go

To court or reach agreements that are not favorable for the affected party. This is contractual risk, an area that has gained the attention of specialists for some years now. While it is true that risk cannot always be absorbed or transferred successfully, it is possible to incorporate smarter strategies to mitigate or eliminate it. In this sense, the objective of contractual risk management is to identify, establish and prevent events that represent dangers or threats for companies. What is contractual risk? A contract is a legal document and the greatest economic asset of companies, since it establishes the obligations and responsibilities of the parties involved in a commercial transaction. However, there is also the possibility that risks may arise that jeopardize the success of the business. Contractual risk refers to the possibility of suffering financial losses or receiving sanctions for failing to comply with the essential parts of an agreement . This non-compliance can generate threats in the execution of the contract, which implies the possibility that the obligations and terms of the contract will not be met.



There may also be economic risks, such as the failure of one of the parties to meet the financial obligations of the contract. Additionally, there is reputational risk, which could generate bad relationships with third parties and damage the company's image. What is Germany Mobile Number List contractual risk? Contractual risk refers to the possibility that one party to a contract will fail to meet its contractual obligations, which may result in financial, legal or reputational losses for the other party. What is contractual risk management? Contractual risk management is a critical tool to identify, analyze, evaluate and mitigate the risks associated with a contract during its life cycle , with the aim of protecting the interests of the parties involved. This practice seeks to minimize risks when entering into contracts, as well as reduce the impact of possible financial losses or reputational damage that may arise, which is why it is considered a fundamental tool for making informed decisions in the field of business. . Among the authors who have dealt with contractual risk are tobias mahler and jon bing, two specialists in law and business. Tobias mahler has been a professor of private law at the university of oslo, norway; while jon bing - who died in 2014 - taught at the same university, specializing in law and computer applications.







Both addressed, in joint studies or in separate investigations, the resources and practices to control contractual risk in agreements, understood as the possibility that they will not be fulfilled due to contingencies of all kinds. An example of these studies is the article "Risks in outsourcing it services: a legal and practical perspective" , which provides a detailed review of the legal and practical issues involved in outsourcing it services, and highlights the need for companies take into account the risks that may arise during the life cycle of the contract. The origin of contractual risk management contractual risk management has its origin in the failures detected by researchers in the legal departments of companies, in which there were no safeguards to prevent the risks of non-compliance in contracts. The traditional system used by lawyers to deal with possible threats of breach of contracts had been reactive, that is, it was focused on responding once the negative events had already occurred. Even when protection mechanisms were established in the agreements, they were only applied once the events generated damage, but with very little attention to preventive aspects.