September 2021 ACC Luncheon-Contracts and Supply Agreements: Avoiding Common Pitfalls

Please join us either in-person at the Quarry Golf Club or via Zoom as our friends from Norton Rose Fulbright  bring us a presentation entitled "Contracts and Supply Agreements: Avoiding Common Pitfalls."

Disputes often occur in agreements under which goods are sold, including manufacturing agreements and supply agreements (including services).  A large number of transactions are consummated through the exchange of standard forms.  Typically when dealing with a supplier or manufacturer, the agreement breaks down often resulting from the standard forms relied upon in the transaction. Parties should therefore identify, avoid, and mitigate common but often overlooked sale of goods transaction mistakes and breakdowns.

When an acceptance or acknowledgment form is prepared, the quantity, quality (or description), price, delivery and payment terms are often copied from the face side of the purchase order form to the face side of the acknowledgment form, although there may be exceptions in that a different delivery term or payment term (or both) may be proposed. The conflict may also extend to other standard terms and conditions which will dictate the course for any potential dispute including: venue, remedies available, waiver and ratification and the dispute resolution process. 

This presentation will address of the most significant and commonly overlooked mistakes, including those made:

• Before entering into the agreement— drafting standard forms.
• In negotiating the agreement—exchange of conflicting forms or communication of conflicting terms.
• After the agreement is signed—modification and waiver concerns.
• On termination of the agreement or litigation.

Please feel free to pass this invitation on to other individuals within in your organization who would like to learn more about this subject!