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Legal Network

The purpose of this Network is to provide its members with insights to new trends and emerging practices in the fields of contract, commercial and relationship management. While these will be in the context of the Legal sector, they will draw from knowledge and ideas that are current and relevant in other sectors.  A key goal is to improve the performance of contracts and relationships in the sector.

The objectives will be met by sharing ideas, discussing challenges, exploring new directions and, where appropriate, initiating research or inviting experts to present on key topics in the sector related to contract, commercial and relationship management.

Meetings will be virtual (by phone or webinar) unless in specific cases there is an agreed wish to have physical meetings or workshops to develop specific initiatives.

Group Mission/Vision:

Provide its members with insights to new trends and emerging practices in the fields of contracting, commercial and relationship management in the sector.

 
 
Network Updates

Ask the Expert: *ASIA PAC Time Friendly* Why we need the right Commercial Model to Drive Collaboration

Why we need the right Commercial Model to Drive Collaboration?The benefits of collaboration are legion. In the IACCM research report “Unpacking Relational Contracts”, we see that the role of collaboration in commercial dealings is becoming even more important as the new economy embraces more volatility, uncertainty, complexity and ambiguity. How then do we ensure our commercial approach is crafted to maximise the value of collaboration and minimise leakage in our contracts? In this webinar we will explore why business as usual commercial approaches regularly fail to realise benefits, especially in complex environments.  We will explore how to craft a commercial strategy that is best suited to drive collaboration. This exploration will not just look at the contract terms and conditions but also effective market engagement and negotiation strategies. The webinar will close with an examination of how we can best integrate the commercial function with other organisational disciplines to ensure we achieve enterprise outcomes.      7:30 am Mumbai / New Dehli / Gurugram  9:00 am Bangkok 10:00 am Beijing / Shanghai / Singapore / Hong Kong / Kuala Lumpur / Manilla / Perth  12:00 pm Brisbane 12:30 pm Adelaide / Darwin 1:00 pm Sydney / Melbourne 3:00 pm Wellington / Auckland / ChristchurchOur Expert:John Davies, Principal Consultant, Parallax Project Management. John is a project and commercial manager who specialises in providing strategic commercial advice in complex environments. John has conducted extensive research into relational contracts and governance frameworks from both the buy-side and sell-side. John has authored collaborative contract better practice guides, performance-based contract evaluation guides, and tender evaluation guidelines for Federal and State governments.  John also delivers postgraduate courses in project management, contract law, and risk management at the University of New South Wales.   You can find John’s CV at LinkedIn.  https://www.linkedin.com/in/jdavies71/     The session will be recorded if you can not attend live, Simply register below for the recording.

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Honesty in Contracting

Conventional wisdom is that Sales and Marketing should extol the benefits of a product or service and avoid mention of any possible drawbacks or negatives. Those aspects are covered by the contract, typically in the form of limitations with regard to performance or use, but also in terms of potential recourse. In other words, we all know that sales people and marketing materials tell only part of the story and the contract often conveys a very different message.

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CPS 234

Has anyone has experience with re-writing contracts with 3rd parties to comply with CPS_234? Looking for some guidance / lessons learned.

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Thought Leadership Webinar: EBA Guidelines on Outsourcing Arrangements

The European Banking Authority (EBA) Guidelines bring in a new regulatory regime for financial services businesses that want to outsource, and those to whom they outsource. The positive news is that for banks these Guidelines supersede three other sets of rules, which makes things a bit simpler. The bad news is that they are likely to create work for busy supplier management and legal teams, because if outsourcing contracts are not compliant by the deadlines they need to be made compliant. Insurers need not feel left out - EIOPA is bringing out an equivalent set of guidelines which in many ways mirror the EBA Guidelines. This session will give an overview of the EBA Guidelines, and what you need to be doing to comply with the. We shall focus on some of the potential tricky areas for banks and suppliers and we shall look ahead to the EIOPA Guidelines.

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Contract Analysis software for Due Diligence

Please excuse the anonymity. I have a volume of contracts from which some key data points need to be extracted. Some will of course be significant enough to justify the time of a manual review, but the lower value / lower risk contracts are too numerous for this. This would likely be a single batch operation from existing scans rather than an ongoing requirement. It should be capable of local installation. Does anyone have any experience or recommendation? Thanks in advance.

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$1 token lease fee

I manage a suite of Community based leased facilities - all of the leases are based on an annual token fee of $1. This fee has, to date, never been actually invoiced and paid. My question is would I run into any trouble if the lease was ever contested in court and it identified that there was never any financial transaction to bind the agreement. Wondering if something like promissory estoppel would step in to counteract this fact.

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