Negotiating Requirements Contracts With Suppliers
Assigning Contractual Risks, Navigating Differing Court Interpretations of UCC Section 2-306
Recording of a 90-minute CLE webinar with Q&A
This CLE course will guide counsel in drafting, negotiating, and enforcing long-term requirements contracts. The panel will review recent case law addressing long-term requirements clauses, discuss critical clauses that should be included in the agreements to allocate risks and provide protection against market fluctuations, and outline steps counsel should take to minimize contractual pitfalls.
- Drafting risk allocation provisions that address common scenarios/challenges
- Schedule delays
- Minimum quantities
- Amendments and variations
- Expected and estimated purchase levels
- Changes to lead time
- "Notice of requirements reduction" provisions
- Avoiding and/or addressing contractual and enforcement pitfalls
The panel will review these and other key issues:
- What are the benefits and legal risks with long-term requirements contracts?
- What is the role of the stated estimated and expected levels of purchases in a requirements contract?
- How can businesses best mitigate risk when drafting and negotiating long-term requirements contracts?
Andrew B. Fromm
Brooks Wilkins Sharkey & Turco
Mr. Fromm specializes in business contracts, litigation, supply chain agreements, negotiations, disputes, warranty and... | Read More
Mr. Fromm specializes in business contracts, litigation, supply chain agreements, negotiations, disputes, warranty and recall litigation, and state and federal compliance issues. He has successfully represented and counseled clients in a significant number of state and federal lawsuits, arbitrations, and multiple consumer class actions. Mr. Fromm also has extensive experience in representing multiple Fortune 500 corporations, automotive companies, manufacturing companies, and private clients throughout all phases of complex litigation involving product liability, wrongful death, negligence, contract, warranty, and indemnity disputes, insurance-coverage disputes, and compliance and regulatory issues involving various state and federal agencies.Close
Ms. Hutchinson offers a broad range of corporate counseling and transactional services to clients of all sizes but... | Read More
Ms. Hutchinson offers a broad range of corporate counseling and transactional services to clients of all sizes but focuses her practice on serving the needs of in-house law departments. She has deep expertise in a variety of commercial matters, including antitrust, trade and price counseling, litigation oversight, negotiating and drafting supply and sale-side contracts, brokerage agreements, distribution agreements, marketing and advertising, sweepstakes, joint development agreements, research agreements, food law and labeling, issues management, M&A and minority investments. Ms. Hutchinson was formerly in-house at General Mills where she spent over a decade working on a wide range of legal matters in marketing, sales, supply chain and antitrust counseling.Close