Download A short guide to contract risk by Helena Haapio PDF

By Helena Haapio

Savvy managers now not examine contracting approaches and files reactively yet use them proactively to arrive their enterprise targets and reduce their dangers. To be triumphant, those managers desire a framework and a quick advisor to agreement danger presents this. the root of choosing and dealing with agreement possibility is what the authors name agreement Literacy: a suite of talents proper for all who take care of contracts of their daily enterprise setting, starting from basic managers and CEOs to revenues, procurement and venture execs and probability managers. Contracts play a huge function in enterprise good fortune. Contracts govern businesses' offers and relationships with their providers and buyers. They impression destiny rights, money flows, charges, profits, and dangers. A company's agreement portfolio should be topic to bigger losses than somebody realizes. nonetheless the best hazard in company isn't really taking any hazards. built with the options defined during this booklet, company and probability managers can begin to see contracts in a different way and to take advantage of them to discover and accomplish the proper stability for enterprise good fortune and challenge prevention. What makes this brief advisor from the authors of the acclaimed Proactive legislations for Managers in particular worthwhile, if no longer distinctive, is its down-to-earth managerial/legal technique. utilizing lean contracting, visualization and the instruments brought during this ebook, managers and attorneys can in achieving legally sound contracts that functionality as managerial instruments for good thought-out, reasonable hazard allocation in enterprise bargains and relationships

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Is there a contract? 4 Contract literacy12 12 Siedel and Haapio 2011, p. 112; adapted from Haapio, H. (2006) Business success and problem prevention through proactive contracting. In P. Wahlgren and C. ), A Proactive Approach. Scandinavian Studies in Law, Volume 49. Stockholm: Stockholm Institute for Scandinavian Law, pp. pdf. 30 Contracts and Risk—the Big Picture 2 Both of the above aspects of Contract Literacy include additional factors, particularly in international business. Understanding what the contract says—the express terms—requires a good grasp of the language of the contract in question.

Academy of Management Review, 32(4), October, 1060–77. 11 2 A Short Guide to Contract Risk Today’s business takes place in an increasingly complex, global and networked environment where contracts play a key role. Major business decisions crystallize into a contract or agreement of some sort. Projects ranging from construction and equipment supply to IT acquisition and outsourcing all involve contracts, both on the sell-side and on the buy-side. Collaborative R&D, selling, procurement, finance, invoicing, change control, claims and many other fields operate within the framework of contracts.

Their contractual aspects need to be recognized and properly addressed. In addition, contracts often contain important requirements for operational performance, milestones, invoices, reports, and notices that need to be captured and followed in daily business. All of the above are relevant in the context of contracts and risk, and they need to be managed. Preparing, negotiating, and signing documents are important steps in the contracting process, but there is more. If contracts are forgotten in a drawer and not followed, businesses can open themselves to a multitude of risks and lose many of the benefits they have sought to secure.

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