My new job occasionally requires me to review vendor agreements. I don’t have any background in this area and am trying to get up to speed. My department doesn’t have a document management system, so it’s tough to find old agreements as precedent. Any recommendations for books or other sources - or any words of wisdom? Thanks!

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Take a CLE on intro to contract negotiations. In practice: all that really matters is: (1) scope of engagement; (2) how much is paid and when it gets paid; (3) indemnity/insurance/limits of liability; (4) choice of law/venue if there’s theoretical anticipated liability m; and (5) confidentiality/IP/healthcare niche issues if the scope applies.

Cheat sheet: Clear scope of work; net x payment; reasonable insurance asks; indemnity proportionate to fault; consequential damages mutually waived and monetary damages capped at insurance limits; and law/forum per the location of services. That will get you to USUALLY a fair deal. Of course, if you have leverage and want to “win” the deal for the sake of winning the deal, you have plenty of room to negotiate.

likehelpfulsmart

Look at the WILD provisions...Warranty, indemnity, limitation of liability, damages. That's typically a good place to start.

likehelpful

I walked into a company that had no tracking whatsoever. All the "templates" were outdated.

My advice is to start with a fresh document. Take bits and pieces of clauses you like and make your own template. As you do new agreements, take note of the redlines you get back from opposing counsel and incorporate into your draft.

Give it about 6-8 months (depending on how many you do per month) and you'll have a good foundation template.

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And right to terminate.

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Peruse EDGAR

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For someone who is also new to this - May I ask how much time on you spend reviewing the average vendor contract? Just a ballpark guess? I’m worried I’m not spending enough time.

That is incredibly helpful. I am not spending enough time on the bigger partners but fortunately we still have zero leverage with all of them. Thanks!

Term/termination, price, volume requirements, exclusivity, MFN, COC/assignment, jurisdiction, restrictions like non competes/solicits, indemnities

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In case anyone is looking to get into product management, I came across this image which shows some books you could read to get into the role.

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Hi admin again posting this my last poat comment are not enabled air please repost it

Hi All

@aashuonly ur comment matter

hope you all are in good health

Neeed help from the genuine guy who are there in It working

Actually I got on offer from wipro(x+.5 charles wab pune) Capgemini(x+.5 hsbc hyd )hcl(x+1 but Gurgaon rbs client ) ust ( vmware client Hyderabad) and mindteee (x+.5 client Salesforce) but my manager(Accenture) had told me am in good books i will gwt promotion in coming quarter

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