I hope that you have enjoyed the article, “When A Supplier Should Sign Your NDA.”
The NDA, short for non-disclosure agreement and also called a confidentiality agreement, is usually one of the easiest contracts for a procurement professional to negotiate. The problem with NDA’s is not usually in the negotiation of them, but knowing when you should be using one.
Unfortunately, there are many sensitive situations where they should be used and they’re not due to the buying organization’s ignorance. Hopefully, the above-linked article will serve to eradicate some of that ignorance from the world.
There is one negotiation thing to look out for when negotiating an NDA. If your organization’s standard template is one-sided – in other words, protects your confidential information but not the suppliers – suppliers will often ask for it to be made mutual. Ideally, your legal department should have a mutual NDA template at the ready. If not, then ask about using the one that they draft as a template in the event that you find yourself in a similar situation in the future.
Other than that, NDA negotiation is pretty straightforward. Now, if only other types of procurement negotiation would be so easy…
To Your Career,
Charles Dominick, SPSM, SPSM2
President & Chief Procurement Officer – Next Level Purchasing Association
Author – The Procurement Game Plan
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