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Banking & Finance

 
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IACCM Council Representatives
Network Leads

THE IACCM BANKING & FINANCE NETWORK

The purpose of the banking and finance community of interest 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 banking and finance sector, they will draw from knowledge and ideas that are current and relevant in other sectors and those related to the industry. A key goal is to improve the performance of contracts and relationships.

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 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 contract, commercial and relationship management.

 
 
Network Updates

As-a-Service:Commercial Model of the Future

Almost 90% of Procurement and Contract professionals expect major growth in 'as-a-service' offerings, with a quarter believing they will rapidly come to dominate the market.*

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A Peek into the Future of Commercial Transactions: Smart Contracts, Relational Contracting and the IACCM Principles

At the 2018 IACCM Americas conference, sourcing and legal department representatives from some of the top companies in the world met to learn about the future of contracting. The hot topics were smart contracts, relational contracting and the newly launched IACCM Principles. Each of these initiatives is being pursued in one form or another by many legal departments, but almost always as separate and distinct efforts. By combining the three initiatives, Legal can elevate its stature within the business by reducing costs and optimizing the value of its services. In a world where agility is valued and delay is not an option, every general counsel is looking to streamline contracting processes and to help clients more quickly recognize revenue. This is where the combined initiatives really show their value.

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Webinar - What Business Leaders and Regulators Want: Managing Third-Party Risk in Financial Services

The scale of regulatory compliance in financial services continues to be a significant challenge. Increasingly, regulators (such as OCC and FRB) have become more focused on how financial institutions are managing outsourcing and third-party risk.

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IACCM 2019 Benchmark Report

More than 750 organizations participated in IACCM's latest study, which covers all the critical areas of organizational design and performance. Reporting lines, performance measures, role and responsibilities, headcount, sources of learning - these and more are covered with extensive data, analysis, and IACCM observations and commentary. When reviewing the findings, please remember that in many cases they may reflect an average. Where necessary, you may wish to contact us to obtain more precise data applicable to your industry or size of organization. Equally, you may wish to contact us about undertaking a process capability assessment and workshop to assist your improvement journey.

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Jurisdiction

For Agreement between the Parties of differnet origin , the aurgument starts up on Jurisdiction and governing law for the AGreement. while both the Parties are interested in proposing law of their respective country to be made applicable to the AGreement, I want to know whether there is any list of prioritised or ranked Jurisdiction/ Govering law like World bank ranks each country a ranking for " ease in doing business" and almost 190 countrites are listed. For example, I propose indian law and other Party would prefer Laws of Singpore to be governing law. Can parties choose England and wales as nuetral or any other preferred law.

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CLM experiences

My company is looking into a new CLM solution, and I'd love to hear from other companies what experiences they faced in the RFP/RFI phase or selecting a CLM vendor, implementation experiences, and post deployment user experiences. What went well and what didn't go well? Which specific areas did the CLM not meet your or your stakeholders expectations?

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Network Members