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Diptarup Chakraborti, Vice-President, Marketing, Zycus

It is no coincidence that transformation of procurement from tactical processor of POs into corporate strategic...

This is an example of a Standard Payment Terms clause in a sourcing agreement. The clause makes reference to the master agreement and includes the terms (within 30 days of the date of the supplier...

Use this tool as a guideline for negotiations with suppliers in agreements that concern intellectual property (IP).

Original Source: Performance Based Contracting

"Procurement organizations should seek to improve performance and lower costs through the use of performance based contracts that: (1)...

Original Source: Tech Target

"Regulatory compliance is an organization's adherence to laws, regulations, guidelines and specifications relevant to its business processes. Violations of...

Original Source: Industry Week

"Companies lose nearly 3-5% of savings opportunities because of auto-renewing evergreen contracts.

Operational efficiency is imperative during a...

Original Source: UTSA

"Contract Law 101

A contract is an agreement between two parties that creates an obligation to perform (or not perform) a particular duty.

A legally...

Original Source: US Legal.com

"An automatic renewal clause allows an agreement to continue for a defined period if the existing agreement isn't renegotiated within a specified time measured...

Original Source: US Legal

"The requisite elements that must be established to demonstrate the formation of a legally binding contract are (1) offer; (2) acceptance; (3) consideration; (4)...

Original Source: US Legal

"A contract may relate to virtually any type of transaction.  Contracts may relate to performance of a service, sale, or transfer of ownership of property, or a...

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