All posts in Contracts

The “Easter Egg Hunt” of Procurement

I enjoyed celebrating Easter this past Sunday. Even though my kids are now 13 and 15, we still have a tradition of doing an Easter egg hunt on Easter morning.  It’s fun, like having wee little kids again, if even for just a few minutes. Strangely enough, thinking about this year’s Easter egg hunt got me thinking about procurement.  Specifically,…

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Shark Case Study: Why Buyers Need Sharp Contract Administration Teeth

It’s been a while since I wrote a post about a personal experience that related to professional procurement.  But some recent dealings with Euro-Pro Operating, LLC – the maker of Shark vacuum cleaners – have “inspired” me to do a post that intersects work and home life. So, anyway… In the past year, I had purchased a Shark Navigator vacuum.…

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How to Review a Contract

I hope that you have enjoyed the article A Buyer’s 11-Point Contract Review Checklist. Personally, I recommend that you never review a contract without a checklist like this. Why? Well, some terms of a contract can look harmless.  And the terms that you are reading on the 20th, 30th, and later pages seem to look even more harmless as your…

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How To Stop Suppliers From Taking Liberties With Your Terms & Conditions

  As we teach in our online class, “Savings Strategy Development,” a best practice is to include your contract terms and conditions with your RFP/tender. This prevents delays later in the process and difficult negotiations with suppliers who feel they have already won your business. However, some suppliers may see this as an invitation to take exception to your terms…

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Rewards As An Alternative To Penalties In Contracts

I hope that you enjoyed the article “Tips For Negotiating With A Sole Source.” I wanted to use this post to expand upon one of the items from the article, specifically “Create tiered risk/rewards scenarios for Service Level Agreements.” Obviously, with any contractual relationship, you want the supplier to perform well. A traditional way of “forcing” the supplier to perform…

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