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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

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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Ask the Expert: The Emergence Of Relational Contracts - What They are and Why They are Important?

The term 'relational contract' has been around for a while and was included in a UK case decided 6 years ago. Since then the phrase has been used several more times in judgments but typically where the cases in question involved some fairly extreme behaviour by one of the contracting parties and often where the written contract in question was fairly brief and rudimentary, between smaller enterprises and entered into without the benefit of much by way of professional legal advice. A case in 2018 seemed to change all that when the term was applied to a contract running to many hundreds of pages entered into between two very substantial organisations with the benefit of very extensive legal advice. We waited to see whether that was something of a 'one-off'. Now we have the answer with a judge confirming that 'the concept of relational contracts is an established one in English law'. Why is this important? It is incredibly important because the classification of a contract as a relational contract would seem to materially impact how the contract is likely to be interpreted; make it more likely that terms will be implied (including implied duties of good faith - something which the English Courts have traditionally frowned upon) and impact how contracting parties can exercise any contractual discretion. It is therefore vital to understand the characteristics of a relational contract so as to be able to identify them, advise accordingly and investigate what, if anything, can be done to avoid the possible adverse consequences of and potential uncertainty created by a relational contract. English contract law has always been praised for its stability and certainty but query whether this is a development in the wrong direction?

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Trends in Payment Terms Survey Results 2019

This report shows the results of a survey undertaken in July / August 2019, examining trends in payment terms. Responses came from 393 organizations, from diverse industries and geographies.

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Men vs. Women in Contract & Commercial Management

The field of Contract & Commercial Management still has some way to go in creating equality between male and female professionals. It begins with the finding that overall just 32% of the community are women and is compounded by the fact that they are less than half as likely to be in a senior management role. This is especially the case in Procurement, where the ratio of women is just under 30% (compared with 40% in sales contracting).

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Panel discussion: using IACCM Contracting Principles to achieve Speed to Contract - IACCM Americas Conference 2019

In this session our experts will provide real examples of how companies have used IACCM Contracting Principles to streamline and balance contract templates and how they overcame initial pressures to maintain one-sided agreements. We will also discuss how these general Principles can be translated into specific contracting guidelines for particular market sectors that have their own market practices. Hal Bretan, Chief Counsel, BT Lita Bollimpalli, Associate General Counsel, Verizon Business Network Services Inc. Christine Pauleau, Senior Counsel, iConPerformance Moderated by: Cathy Brixen, Corporate Counsel, W. L. Gore & Associates, Inc.

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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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Most effective ways of using MSA templates in RfX on the buyer side

Does anyone know of models or guidelines for the most effective way to present the buyer's MSA template in the RfP process? This is for private company sourcing, not public tendering. I am a lawyer supporting the in-house procurement department of a large global company, and I see that non-lawyers have trouble finding the most effective way to deal with the legal parts of the RfP process. I would like to provide some generalized guidance instead of case-by-case. It would be helpful to have some models or examples as a starting point. For example, do you spend time to tailor the legal terms before sending the document to bidders, or wait until negotiations with the winner(s)? When is it best to include the entire contract template, and when is it best to include only mandatory clauses (code of conduct, personal data protection, etc.)? When should you allow post-award negotiation and when should you require bidders to accept T&Cs as is? Links to IACCM resources on this subject are also welcome, as I haven't found any through a search. Thank you!

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Modern Slavery Act- Australia

Hi All, As the first cycle of Modern Slavery Act reporting for Australian companies is coming soon. Although this is only valid for the companies total revenue of at least $100 Million per annum. Anyone started the preparation or started to learn about the process? Regards, Gaurav Seth

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NDA and Existence of Agreement

Do you interpret the the language "parties are not to disclose the existence of an Agreement" verbatim? Or do you interpret that to expand to use of customer name or logo in marketing material as well?

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