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Can anyone provide tips on managing stress and building resilience during long drawn negotiations with stronger parties that are bigger than my organisation?
As a firm who provide intangible services and works in fast pace environment, we have categorized our contracts into two types, ordinary and complex. We designed a standard terms and clauses for ordinary contracts because they are services require basic materials, and low risk, and standard requirements. A service has more than 6 tasks is considered as a complex contract which requires more attention in the review stage. Doing this technique have reduced cost, process, and time spent on contract review stage.
very in interesting subject
Recently, when reviewing the costs built up in a Service & Support contract noticed we had accounted for an "excessive" amount of hardware upgrades. I thought we had overestimated these costs, but we are talking about a 5 year contract and I can see now the rapid evolution of the technology and regulatory pressures to change existing hardware that reached the End of Life. I can see now we had properly estimated those costs.
Hello Tim I found your article very interesting. I agree that procurement struggled for years to prove its real value, and it is still struggling. Firstly. Until the procurement staff performance is measured on monetary savings mainly and their work considered purely administration, it will be difficult to make any changes. The demand need to come from senior commercial leaders. The targets set for procurement staff are quick turnaround time and monetary savings. There is very little time to build relationship! Question. If the new technologies will make procurement quicker, with less or without people, would the relationship element be pushed back even more? No need to lift the phone anymore or meet in person! While I can hear that you would have more time to interact with suppliers. That is not, what I can see, but increasing volume of work, as you can do procurement quicker. In my view, the senior commercial leaders need to understand the benefit of relationships in business, set the direction and support the staff to achieve it. Support means not only sending a person on course but show it how it is done. Really seen nowadays! Secondly. I am always interested in self-development. What do you think what skills should we should concentrate on?
Tests of public opinion show that people do not want the world to return to the way it was before, a view that is overwhelmingly endorsed by the contracts and commercial community. 88% hope for increased levels of collaboration and a more 'fair and reasonable' approach to negotiations. As country lock-downs are slowly eased, interest is shifting rapidly to the question of what emergence will look like. This fourth report on the Business Impact of Coronavirus focuses on early indicators of how commercial relationships may change. The pandemic has shown corporate behavior at its best and worst, with some demonstrating high ethical standards of care not only for employees and the local community, but also the impact their actions have on far-flung communities in the poorest parts of the world. Others have simply shrugged off their responsibilities, ignoring contractual and moral obligations, with no apparent care for the consequences.1 So will things really change? In that same poll where 88% voiced their hopes for new ways, 74% actually believe that they will happen. The infographic below indicates what form those changes may take.
Hi, in case no precedence term is set and/or agreed in any documents including MSA, which term (PO or MSA) will take precedence and the legal ground behind it. Can someone please provide some ideas, comments and experience? Thanks.
The company I work for has boiler plate contracts to use as templates, however these are adapted to ensure a more tailored approach, depending on the individual opportunity. The time spent negotiating recent contracts has increased due to the uncertainty surrounding Brexit and the potential implications this may have.
Listening now to Rod Wade's message as part of the MOOC's week 2 activity studies. Including Melissa Kargiannakis', founder and CEO of skritswap, words of wisdom for working in the remote/virtual world we are now in is much needed. "Huge helping of autonomy; dash of accountability; generous helping of flexibility; and a pinch of structure." Each "ingredient" she mentioned is the right measure that will make this new workstyle change we are in to be successful.
To help IACCM members move forward, this webinar explores resources and information recently released. Topics include: Need to know 1. VIBE Summit 2. Staying on TASK in the New Normal 3. Coaching for the New Normal 4. IACCM Council Elections - Vote Now 5. COVID-19 Support. Member-only offer ends 30 June 6. Managing Contracts Virtually - offer ends 26 June Research 7. Most Negotiated Terms 2020 Resources 8. Contracting Excellence Ideas and Issues 9. Adaptive Automation and Talent: Is There a Link? Events 10. TASK Webinars 11. Virtual Member Meetings 12. Ask the Expert and other Webinars 13. Body Language in Live and Online Negotiations BONUS 14. Think Global - Act Local
Take this opportunity to influence the future of IACCM and play your part in the mission to achieve world-class standards in contracting and relationship management processes and skills. The IACCM Global Council will be formed of approximately 150 IACCM Members each representing either a specific country, region or IACCM community network. Vote NOW for your preferred candidates and influence the ambassadors in this body of professionals.
Anyone holding bitcoin would have watched the market with alarm in recent weeks. The virtual currency, whose price other cryptocurrencies like ethereum and litecoin largely follow, plummeted from more than US$10,000 (£8,206) in mid-February to briefly below US$4,000 on March 13. Despite recovering to the mid-US$6,000s at the time of writing, some doomsayers have even wondered whether bitcoin will soon spiral back into three figures.
You are invited to nominate to be an elected IACCM Council representative within a particular geography, industry and/or practice area. (Those who participated in the Advisory Board elections have automatically had their tenure extended and do not need to renominate unless they want to represent members in a different community network.).
I'm currently reviewing a contract which requires us to provide a royalty free license to all background IP used the execution of the contract. However this clause does not extend to third party IP (for obvious reasons) As we currently license software from another group company me question is would the separate group company be treated as a third party? There is no connection apart from the ultimate parent company.
During the Contract Economics workshop at the IACCM event in November 2019, Kinglsy Martin and Sally Guyer discussed calculating the cont of contracts via a calculator (which essentially looked like a fairly robust spreadsheet). We would like to understand how or where to find that calculator as we are undergoing a project to refresh our IT Master agreement templates and we'd like to calculate our before and after costs estimates for each. I've attempted to look throughout the portal with no luck.
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