IACCM Contracting Principles
Sally Hughes, Chief Operating Officer, IACCM - International Association for Contract and Commercial Management, UK
Lita Bollimpalli, Assistant General Counsel, Verizon Business, USA
Hal Bretan, Chief Counsel, BT Americas Inc., USA
Whether you are a customer or a supplier, Speed to Contract (“S2C”) produces benefits. The faster parties come to “yes,” the sooner critical products or services can drive a customer’s business success, the quicker involved personnel can shift to other tasks, and the earlier revenue streams can hit the supplier’s books. Unfortunately, all too often, negotiations over the same issues slow down the process. Many of us can replay arguments over limitations of liability, indemnifications, audits and the like in our sleep. A practical solution is at hand. IACCM is now endorsing a set of fair, balanced contracting principles that, if accepted in advance by the parties and built into template agreements, can remove these issues from the negotiating table and allow the business folks to focus quickly on the core of the deal – deliverables and commercials. Everyone wins.
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