Commercial Contract Risk in 2017
With international and domestic supply chain contracts, there is little or no room for error. according to an article posted by a team of lawyers at Foley & Lardner LLP.
“While some supply chain contracts incorporate negotiated provisions in the form of a letter agreement or long-term agreement, many supply chain contracts rely on standard purchase order terms and conditions. This can result in contracts of considerable value and corresponding high risk receiving little attention from in-house or outside counsel,” they write.
They offer advice on how to manage supply chain contract risk, supply chain contracting in light of regulatory changes, and international contracting.