When it comes to supplier paper, two major issues exist: you start from their position of strength and your legal team doesn’t have time to perform 100% analysis of their paper. As a result of this on-going internal procurement / legal struggle, many provisions are overlooked that deserve the scrutiny from Procurement professionals. In this workshop, explore the informal guidelines developed by the procurement team at Hess to address the frequently forgotten components of vendor paper.
•Price escalation controls and timing with renewals
•Splitting services from software
•Audit clauses – what can they do?
•Data ownership – what is data?
•Termination clause – refund provisions