Drafting and negotiating sale of goods agreements often results in unanticipated mistakes, disputes and contractual breakdowns, presenting complex legal challenges for counsel to suppliers and buyers.
Common contracting errors include inadequate requests for quotations during pre-contracting, boilerplate clauses, conflicts in terms and conditions of the agreement (a.k.a. "the Battle of the Forms"), and failure to follow proper procedures when terminating the agreement.
Business counsel must understand and carefully construct provisions that anticipate and address common mistakes to effectively minimize risk for their clients. Counsel should also advise clients on best practices in managing the buyer-supplier relationship to mitigate mistakes and breakdowns.
Listen as our panel of attorneys experienced in negotiating sale of goods agreements discusses best practices for drafting and executing the contracts. The panel will discuss specific clauses that should be included in agreements and provide strategies for avoiding common negotiation pitfalls.
I. Understanding and mitigating pre-contracting mistakes
II. Identifying and minimizing common contracting mistakes
III. Assessing and avoiding supplier-buyer relationship mistakes
IV. Preserving value and limiting liability during contract termination
The panel will review these and other key questions:
Jeffrey A. Soble, Partner, Foley & Lardner LLP
Lynn M. Larsen, Corporate Counsel, Cummins