Do I Need Terms of Business?

Business Terms. Terms of trading. Terms and conditions. Terms of Business. They go by various names but essentially, are all the same thing. Here, we’ll call them Terms of Business (TOB). A written record and framework setting out the legal basis upon which businesses trade with their customers or clients. They are used to protect

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Effective Contractual Controls in Business Projects

In the fast-paced and competitive landscape of modern business, successful project execution can make or break a company’s future. Whether it’s launching a new product, forming strategic partnerships, or undertaking a major development initiative, businesses embark on projects with the expectation of achieving desired outcomes and driving growth. However, without robust contractual controls in place,

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Outsourcing Your Business Requirements

In today’s dynamic and competitive business landscape, organizations must explore innovative strategies to stay ahead of the curve. One such strategy that has gained widespread popularity is outsourcing. By entrusting certain business functions to external vendors, companies can unlock numerous benefits and focus on their core competencies. In this blog, we will delve into the

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Distribution Agreements in the Software Industry

When it comes to distributing software and software-as-a-service (SaaS), businesses often explore various models to reach their target customers effectively. Two common approaches are distribution and reseller models. While these terms are sometimes used interchangeably, it is crucial to understand their material differences. In this blog, we will delve into the context of distribution agreements,

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How do you transfer a contract?

There are several situations in which you or your customers may want or need to transfer a contract. Here are some examples: Business re-organisations and sales. Outsourcing responsibility for a function where the in-coming supplier will acquire assets, including the contract, to supply the new service. Managed services where the supplier takes responsibility for performance

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Contract Lifecycle Management

Wikipedia describes Contract Lifecycle Management (CLM) as “the proactive, methodical management of a contract from initiation through award, compliance and renewal. Implementing CLM can lead to significant improvements in cost savings and efficiency, limit organizational liability and increase compliance with legal requirements.” What’s not to like? However, if you search for Contract Management Software in

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7 Commercial Contract Mistakes

According to research carried out by World Commerce & Contracting the main purpose of a contract is: Firstly – A record of rights, responsibilities and obligations and Secondly – Providing protection and remedies in the event of a dispute Important factors for any business, but how can you ensure your contracts cover these areas and

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