How to Write Contracts for Procurement Professionals is brought to you by Lorman
Understand the important terms and conditions when drafting contracts for your organization.
Procurement contracts incorporate significant provisions that will govern the relationship between the owner and the contractor. Understanding key contract provisions and negotiating reasonable terms upfront is paramount. In addition, prime contractors must flow down numerous provisions, ensure subcontractor compliance, and mitigate risk through targeted subcontract drafting. Gain an understanding of the unique challenges that owners and prime contractors face to comply with procurement contract requirements and negotiate subcontract terms with private subcontractors. This material will focus on the types of damages provisions found in both federal prime contracts and subcontracts, how to mitigate risk through flow-down provisions and indemnification clauses, and the different negotiation perspectives for prime contractors and subcontractors.