Thomson Reuters Looks Beyond Brexit with Latest Contract Service
The Financial Trade Documentation service aims to help financial institutions identify and renegotiate contracts that may be impacted after the UK leaves the European Union.
April 16, 2018 at 02:41 PM
5 minute read
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In advance of the EU's upcoming General Data Protection Regulation (GDPR), many legal technology and managed services providers are moving to offer clients regulatory solutions. But the GDPR isn't the only EU event driving demand for compliance-focused offerings.
Thomson Reuters Legal Managed Services, for example, has announced a new “Financial Trade Documentation” service to help financial clients renegotiate contracts ahead of the UK's March 29, 2019, “Brexit” from the EU. The new service leverages two distinct technologies—Thomson Reuters' Contract Express and Logical Construct's Lync contract review platform—in a multi-step consultancy and remediation program.
Initially, Thomson Reuters Legal Managed Service teams will develop a contract remediation plan with clients to understand which contracts need to be updated because of Brexit. “The first step is understanding what is in that portfolio of contracts … and understanding what relevant fields need to change and what is in those fields today,” said Eric Laughlin, managing director of legal managed services at Thomson Reuters.
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