Negotiating a Data Processing Contract
A blog post by J. Marc Ward for Fredrikson & Byron addresses some of the risks associated with the failure to negotiate a data processing agreement, as well as tips on how to avoid common pitfalls.
The article is aimed at the banking business.
Ward addresses regulatory risks, mergers and acquisitions, and negotiating the contract.
“As products and services are added to the master agreement, do not lose sight of the big picture,” he advises. “Watch out for services with terms longer than the other services in the agreement and ensure that any added services terminate at the same time as the master agreement.”
