Best Practices – Commercial Terms – The Critical Commercial Terms You Need to Make Your Contracts Stronger.

With the start of the New Year, I’ve jumped right back into the deep-end with several projects that began towards the end of last year and grew hot over the break.

Each of these projects have required some amount of re-write of contract terms.  Coincidentally all of these agreements started on Vendor paper (or the Vendor’s form of agreement).

As I have completed my reviews (all around the same time), it became evident that the vast majority of these were lacking some of the same things.

Some were vague in their description of scope of work, others had poorly defined payment terms, others simply offered no contractual remedy in the event of a breach.

In previous articles we reviewed the differences between a scope of work and a scope of services.  Collectively these two pieces of information convey the scope of the agreement.

Of course this is the number one part of an agreement that needs to be right, but there are a few others:

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ProcureCon 2020 – Another Great Event – What Google and Intel shared and How I Found a Mythbuster’s Job at the Home Depot.

A few weeks ago I shared with you that I would be attending this year’s ProcureCon Facilitiesconference.

You may recall that this is my third year attending the conference.  Once again Frank Musero and his team at WBR have managed to pull together a fantastic event.

Today I want to share some of my highlights.

In previous year’s had not attended the pre-conference tours, but this year I did.  There were two tours to choose from.  I elected to attend the Home Depot tour.

Industry Watch – Payment Protection – Why the US and Other Leading Nations Need Payment Protection Legislation and What Procurement Can Do in the Meantime.

Throughout the world legislative actions are transforming the way the construction industry behaves.  These legislations are not only protecting trade contractors from unfair practices, they are protecting Owners too.

Surprisingly, some of the world’s most sophisticated markets have yet to enact similar protections.  In those parts of the world, certain common and persistent practices continue to put the supply chain and Owners at risk.