Approximatively £1 trillion p/a of new private investments are managed using tens of millions of pages of paper or digital facsimile (PDF) in analogue agreements. No native automation. No transparency. No risk management. No secondary market access.
We’ve done the research. We know that reducing the time spent tracking down parties for a signature, while also making sure that the conditions present are ticked off in the right order by the right people at the right time, is a key priority for legal professionals.
Implementing “pre-mortem” thinking – pre-planning, and pre-agreements of remedies for breaches and issues – is practical and easy with a digital contract, meaning that once it’s signed, those remedies are embedded into the agreement and there can be greater certainty and efficiency in the delivery of legal solutions.
The power of pre-planning allows remedies to be agreed upon at the outset, forecasting and addressing any future bumps in the road. Whether things change for better or for worse, a Hunit contract gets to work to self-execute legal actions.
So, if an investment doesn’t go to plan, solutions can be implemented with efficiency and speed, making all the difference for client legal costs and relationships.
It can be overwhelming to deal with entities in other jurisdictions and manage contracts in disparate legal systems. Investors are sometimes put off by the challenges and costs they might incur making cross-border investments.
Anticipating issues with a Hunit contract enables advisors to give their clients the best advice on the future of their cross-border investments, and provides investors with an additional layer of security, since contracts on the blockchain are tamper-proof, traceable, and easy to execute.
A Hunit digital contract requires parties to be transparent about their objectives and concerns from the outset, integrating not only remedies but trust into the contract’s lifecycle. Analogue contracts do not traditionally go that far to give parties security.
Hunit enables the parties to stay involved and engaged with the contract, de-risk contract drafting and protecting each parties’ interests in the long run.
Analogue contracts ask “Did Director X perform their duty diligently?”. A Hunit digital contract asks instead, “Did Director X oversee profit growth of 20% over the financial year?”
Clear definitions of likely areas of dispute help avoid costly and protracted litigation processes and provide a roadmap towards remedies and solutions. Defining the terms of dispute is essential to the creation of a Hunit digital contract.