Author: Sidsel Marie Kristensen Partner, Bech-Bruun
Sidsel Marie Kristensen's Presentation to the IACCM European Forum June 2014 around what you should consider before signing the partnership contract.
It is essential to gain visibility into the risks associated with entering an agreement and proactively mitigate these wherever possible during the contract development process. Receive a basic framework to develop a reliable, proactive contract risk assessment strategy for your organization, including:
Identifying risk beyond viability of your new business partner through proactive risk indicators
Determining the potential impact of failures and complexity of contingency planning on your business operations
Classification of risks and internal implementation the business' position on each category (risk policy) - should your business avoid, mitigate, transfer or accept the risk?
Contingency planning through your contract: Translating risk exposure into contract terms in collaboration with your negotiating counterpart during the contract development process
Ensuring balanced risk sharing between yourself and your business partner
Overcoming unfavourable 'legacy' terms and conditions during contract renewals
How can you ensure all mitigations are in place from an operational standpoint - how do you ensure compliance?
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