A contract represents a meeting of the minds of both parties. Data breaches, patent infringement litigation and software implementation projects gone wrong are frequent challenges faced by sourcing organizations. In this session, we will share an approach for balancing the risk in your favor through: standardized contractual terms and conditions; sourcing playbooks to assist your team in negotiating your provisions; escalation path recommendations for significant deviations from your most critical clauses; and reporting tools across your portfolio of third party relationships for capturing those deviations. This session is recommended for non-attorneys looking for ways to bolster the capabilities of their sourcing team; or for legal counsel supporting the sourcing team who are looking for ways to improve the quality of deals coming to their desk.
Topics covered in this session included:
- How to position your negotiation points on the most contentious provisions, including limitation of liability, ownership and infringement
- How to equip your sourcing team’s toolbox with templates and playbooks
- How to reduce red-lining cycles and maximize leverage early in the RFP process
- How to capture deviations from your standards and report exposure across your supplier base
Contributors: Huntington National Bank
Categories: 2015 Fall - Huntington, Summit Presentations
SRC Type: Risk Management, Sourcing Management