This SIG buy-side member from the finance industry is interested in how you manage routing contracts through Legal.
Please indicate when answering if you are or are not a financial services organization. In addition, if your organization name cannot be given, please indicate the size of your organization (example: asset size, employee size, Fortune 500 etc).
- Who negotiates the legal aspects of your Procurement Agreements? In-house legal department, imbedded legal within Procurement, outside legal counsel or other? What is the average contract workload per attorney?
- How long does it take to negotiate a moderate to complex Procurement agreement? Do you have SLAs on turnaround? If so, what are they?
- Does your organization have a centralized procurement function? Do all Procurement engagements go through a legal review? Please feel free to explain the details.
- If you are a financial institution, do your high risk engagements get approved by upper management? If so, what is the process?
- Does your Procurement Department or Legal Department have and use their own Procurement templates?