What are the corrective actions should be taken by a Contract Manager to stop revenue leakage?
Please let me know what are the potential sources of revenue leakage (especially for IT Industry) and what are the best practices we should implement as a Contract Manager to stop the revenue leakage.
Reading through the negotiation case study, I find the most powerful part of negotiation is to use a if you...then we... statement to ensure you are always gaining something back for everything you give up. Does anybody else on here have any quick tips or snippets they use?
Joint Ventures - Can you help
Hi All Does anyone manage a JV contract and would be willing to speak to me? My team are managing a JV where we are both a joint owner with two other societies, plus we supply also them with a few services. I would love to speak to someone who is also in this position and can discuss the governance structure they have set up ect. Hopefully, someone out there will be able to spare me some time to discuss the pitfall and best practice they have encountered. Thanks Jan
Few sub-contractors of an earlier project were due certain certified amounts as part of their Final Bills. However, the payments were not released due to non-submission of statutory compliance documents. It so happens that a few of these sub-contractors are now either not reachable / traceable and are not responding to any letters / emails etc. In such a context, how does the company remove the liability of payment due to non-response by the sub-contractor?
Warranty & Discontinuation of Product
Hi everybody, Now we have a situation here in terms of warranty and product discontinuation : A large facility was being constructed which required ~1500 architecturally exposed fixtures of a particular style/model. A Purchase Order was drawn up with terms of Warranty of 10 years. This was in 2014. Cut to 2019, replacement of 9 fixtures are required (5# attributable under warranty provisions + 4# misused by the Purchaser) and it is now learnt that the fixtures itself is discontinued from the product line since 2017. It is not possible to install 9 fixtures of a different model / look as these are architecturally exposed fixtures / products. The Supplier has politely declined to answer the conflict of giving a 10 year warranty ending 2024 and discontinuing the product in 2017. Q1: Advise on possible ways such a situation has been contractually dealt with. Q2: How can one estimate the damages towards default by the Supplier in committing to its obligations under the Warranty Period, since the product has been discontinued? Thanks in Advance
Contractors Performance Criteria
Dear All, regarding the Contractors Performance Criteria is there any recommendations or benchmark thanks Hussein
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.
Municipalities not required by law to indemnify a Vendor
During negotiations, municipal/city customers tell me they are not required to indemnify a vendor as required by state law. I'm not arguing the law, but (i) this does not seem fair while attempting to negotiate a fair contract and (ii) if this must be the way, does anyone have a great idea to provide a counter to this. Currently, I change our customer indemnity language to state "the Customer is responsible for its acts and omission etc....
How can we do the cost optimization using effective contract management especially for IT Industry?
Can someone please let me know what are the key aspects/levers should we consider in any Contracts (preferably IT Outsourcing Contracts) post signature to optimize the cost of operation? It would be really very helpful if you can share a few case studies where cost has been optimized through effective contract management and how was it achieved.
Hi Would anyone be happy to have a discussion with me, or give me some pointers on managing a JV where you are both a customer, supplier and a shareholder? It would be good to understand how other companies navigate this tricky relationship and if there is any IACCM best practice I should adhere too? I have different contract managers who are responsible for the customer and supplier side to eliminate any conflict of interest, but the whole governance is so much more complex than a straight commercial arrangement. Therefore, if anyone has any experience or observations they would be happy to share, I would really appreciate your help. Kind Regards Jan
Bench marking a service
Hi All Is there any standard in terms of stakeholder satisfaction in IACCM contract Management? We have sent out surveys (which our stakeholders had input into regard the questions they wanted to score us on) We have received some great feedback and suggestions for improvements. Whilst I think a satisfaction score of 81% is very good, I have nothing to compare it with. I know all survey are different in terms of the questions, but to put this result into some context it would be good to understand if any work has been done on what good looks like in terms of satisfaction scores in other companies? I would love to hear any views people are happy to share, as my Director would like to share these results with our board but unless we can put them into context in terms of best practice, they are just a score which doesn't tell the wider audience that much without the wider context! Kind Regards Jan