Supply Chain Agreements: Structuring Key Provisions
The growing complexity of the modern day supply chain creates an environment of uncertainty that is a good reason to reassess whether supply chain agreements are drafted with a mind toward key provisions that can protect a company, warns a post on the Foley & Lardner website.
One point to consider, the authors explain, involves indemnification and consequential damage disclaimers. They write that “it is important to ensure that contracts expressly address how indemnification clauses and damage disclaimers interact with one another.”
Other points discussed in the article are the company’s warranty limitations, force majeure provisions, and termination provisions.