Many different groups are involved in your contracting process. Purchasing, business unit executives, Legal, Regulatory, and Finance can play critical roles in the process and have a large impact on the contract you ultimately sign. Know who has decision making and signoff authority for all points of the contracting process.
- A lot of different groups will be involved…in your contracting process.…Business unit executives, purchasing, legal,…regulatory and finance can play critical roles…and have a large impact on the ultimate contract you sign.…Business unit executives…are usually the first people you'll work with…since they're the ones interested…in purchasing your services.…You'll cover high-level contract and commercial terms…with them like project scope and pricing.…Once it's clear that you'll be working with a client,…ask these executives to put you in touch with the people…who conduct supplier onboarding…so you can get that process started.…
That can take a long time.…Purchasing or procurement will be your primary contact…for contracting discussions.…They're usually the ones…who you'll negotiate contract terms with…for an MSA, SOW, TO, or services agreement.…They'll coordinate the involvement…from other groups like legal.…Purchasing people are experts…at negotiating these contracts.…They do it all day every day.…Typically, there's a team that focuses…
- Major and minor contracts
- Registering as a supplier
- Setting pricing, payment, and other contract terms
- Insurance requirements
- Defining your project
- Negotiating the contract
Skill Level Intermediate
1. Start the Contracting Process
Register as a supplier2m 31s
2. Understand Contract Elements
3. Define Your Project
4. Negotiate the Contract
Next steps1m 18s
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