Whether a business manages hundreds of contracts per year or only a few for key relationships, contracts are a fundamental component of risk management for every company. Contracts define business relationships and transactions. Moreover, how a business mitigates contract and dispute risks profoundly affects its financial health and reputation as a business partner.
The Dispute Our latest Resolve involved a laboratory services contract that specified the payment of about $28,000 in penalties if the customer delayed the start date of the study. As is often the case, both sides believed they were in the right, actually had good reasons for believing it, and felt the other side was acting the scoundrel. The laboratory had reserved and purchased resources and materials specific to this study and so had lost the opportunity to do otherRead More
California is in the third year of cuts, and the state’s courts are taking a $660 million hit: $350 million in the latest budget cuts and another $310 million originally earmarked for court construction that is being diverted to the State’s General Fund. Complex litigation departments which handle business trials will be closed or cut back, and many cases will marinate as statutory time limits approach 1. Closed courts and delayed hearings mean a dispute could sit unresolved or evenRead More