In light of a trade landscape rife with tariffs, companies are examining their commercial contracts to judge the exposure to increased costs of production. One area of a supply contract that cannot be overlooked when...more
President Trump’s shakeup of U.S. trade policy with its approach to tariffs is costing companies billions of dollars. In fact, in June of this year, importers paid the U.S. government customs duties (of which tariffs are a...more
Assessing Tariff Impacts in Commercial Contracts -
With the size and scope of President Trump’s tariffs continuing to shift, this is a critical time for businesses to assess their contracts and determine how increased...more
As we navigate a turbulent tariff landscape for manufacturers, we want to help you with some of the most frequently asked questions we are encountering right now as they relate to force majeure and price increases:.....more
Commercial forms – such as quotations, purchase orders and invoices – and associated terms and conditions are ubiquitous in the supply chain and often the only contract that exists between a buyer and seller. When used...more
11/2/2022
/ Breach of Warranty ,
Buyers ,
Contract Terms ,
Force Majeure Clause ,
Global Economy ,
Risk of Loss ,
Sellers ,
Supply Chain ,
Terms and Conditions ,
Uniform Commercial Code (UCC) ,
Warranties
As we have covered in prior articles of this series, with supply chain disruptions wreaking havoc on the ability of companies to get their goods and services to market, the terms of a company’s commercial contracts have never...more
That question, as we brace for the continuing effects of COVID-19, is at the top of executives’ minds. And yet each vision seems to beget more questions: about alternative supply chain models and contract terms, about...more
9/29/2020
/ Business Disruption ,
Business Strategies ,
C-Suite Executives ,
Canada ,
China ,
Contract Terms ,
Coronavirus/COVID-19 ,
Manufacturers ,
Mexico ,
Natural Disasters ,
Suppliers ,
Supply Chain ,
Tariffs ,
Transparency
The modern day supply chain is ever more complex. Add to that the fact that it is under an almost daily attack from the current political climate. This creates an environment of uncertainty that is a good reason to reassess...more
According to Black’s Law Dictionary (10th ed. 2014), indemnity is a “duty to make good any loss, damage, or liability incurred by another.” At its core, an indemnification is a promise to reimburse a person for a loss...more
3/1/2019
/ Bodily Injury ,
Contract Terms ,
Express Warranty ,
Hold Harmless ,
Indemnification Clauses ,
Infringement ,
Negligence ,
Property Damage ,
Remedies ,
Risk Allocation ,
Supply Contracts ,
Willful Misconduct
This article explores the following topics: (1) What is a directed-buy arrangement? (2) What significant issues exist for a customer in a directed-buy arrangement? and (3) What are the best practices for a customer entering...more
The Non-Disclosure Agreement (“NDA”) is a document that is very often prone to misuse in commercial practice. Often, when business teams from two companies get together, the first thing they do, almost as a box-checking...more