Change Management in Commercial Contracts (Part 2)
In the second part of a series on change management in commercial contracts, Morgan, Lewis & Bockius LLP discusses the procedural mechanisms for managing change.
“In addition to classifying changes and allocating costs, outsourcing agreements and other long-term service agreements should include a defined set of procedures for documenting and implementing changes,” write partner Peter M. Watt-Morse and associate Glen W. Rectenwald.
The explain that agreements should, at a minimum, contain key procedural issues, such as mandatory changes, emergency changes, permissive changes and disputes. The article also covers the mechanism for making the change.