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Keys to Understanding and Writing Purchasing Contracts - Webinar

  • ID: 4302547
  • Webinar
  • 90 Minutes
  • Lorman Business Center, Inc.
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Understand the legal aspects of writing purchasing contracts and reduce liability for your company.

Purchasing law is an emerging legal area invoking a variety of legal doctrines including Article 2 of the Uniform Commercial Code, treaties such as CISG and the New York Convention, common law concepts of impossibility, products liability, insurance coverage law, civil law concepts of good faith and fair dealing, antitrust, trade secret, and choice of law and forum rules, among others. Against this backdrop, a supply chain contract must be a sturdy document that limits risk, is clear and concise, and allows the company’s rights to be enforced as anticipated. However, the business relationship being documented by the supply contract is constantly changing. The products sold, the companies involved, and the basic assumptions are often different one or two years into the project. Additionally, obligations and issues outside the contract, whether it’s a hurricane or product liability suit, often impact how a contract functions.

Learning Objectives
  • You will be able to discuss the dynamics of contracts.
  • You will be able to review contract language.
  • You will be able to explain proper drafting dispute prevention.
  • You will be able to describe how contract drafters must consider role in the supply chain.
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Contracts Are Dynamic
- The Law Specifically Allows Custom and Practice to Modify Contracts
- Courts Allow Even Airtight Contracts to Be Modified by Emails or Other Unsigned Documents
- Different Jurisdictions, Different Countries, Have a Radically Different View of Contracts

Contract Language Must Limit Risks Arising From Changed Circumstances
- Remedies Provisions Limit Risk
- Warranties Define Risk
- Dispute Resolution Clauses Ensure Risk
- Force Majeure Clauses Are Damaging
- Protection of Intellectual Property
- Indemnification

Contract Drafters Must Consider Role in Supply Chain
- Privity of Content Is Under Attack
- Clients Face Noncontractual Obligations That Alter Rights
- Foreign Jurisdictions May Impose Obligations

Proper Drafting Prevents Disputes
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Jeffrey J. Mayer, Akerman LLP
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This webinar is designed for attorneys, purchasing managers, material managers, contract administrators, senior buyers, project directors, controllers and accountants.
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