Importance Of Supplier Contracts And Agreements

Legal teams are stakeholders, just like other stakeholders, who have needs and wishes for a supplier engagement. Therefore, if the rights do not work early enough as part of the contractual purchasing process, there will be a separation to ensure that the needs and wishes are met. If we are waiting until we are about to make a deal with a supplier, we left it too late. Indeed, the contract we conclude with a supplier should be based on and comply with our business and relational requirements. It provides a place where ICPs and service levels can be set. It offers a way to articulate the commitments that the parties have towards the relationship and to define the specificities of what needs to be provided. .