People who are responsible for managing their company’s vendor, supplier and service provider relationships should routinely review their company’s commercial contracts. Attorneys and other compliance professionals often assist in this review. If this task is on your to-do list, or if you have asked someone else to do this and are planning to review their findings, the following five topics are worth paying special attention to:
Termination. Ironically, once it’s clear that a valid contract exists, it is critically important to understand how the parties can get out of the contract.
