I agree that simplification is the only way to go. More and more companies are realising the benefits of reducing sales cycles, negotiation times etc together with ease of understanding of contracts by key stakeholders and customers.
I agree that too much emphasis is often placed on covering off risk when a certain amount of risk is an element of all contracts. Managing that risk in an intelligent manner is key and part of that management is using the right contract terms for the relevant offering. IACCM's VCU Framework will help companies to manage uncertainty through contracts.
We would welcome the opportunity to explain the benefits of contract simplification and design together with the VCU Framework to your senior business and legal teams. Please reach out to me personally if you would like to discuss. My email is pdoyle@IACCM.com
VP and Global Head of Research and Analytics
We have also launched a survey today which has already generated hundreds of responses and we will be putting out a report on the results early next week so please watch out for that.
I hope this helps and please do let us know if you have further specific questions.
• Cadent Gas Ltd
There are multiple ways to be honest, including Force Majeure clauses and Business Continuity obligations on the supplier which are regularly tested.
• Vaisala Inc.
We have recently added a statement to all quotes to customers with regard to COVID19, namely that it is now a 'known' event and given that the environment is ever-changing that status of your order may change, including for example the time from submission of order to delivery/performance. We will use all commercially reasonable efforts to notify you as soon as possible of any change. So perhaps something along those lines? Our sales and executive teams seem pleased that we are addressing it directly.