From the course: Contracting for Consultants
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Watch out for contract pricing issues
From the course: Contracting for Consultants
Watch out for contract pricing issues
- If you're not careful, you can get caught in a variety of contract-related pricing issues. Topics of pricing, payment terms, and unfair risk provisions can cause massive financial issues for you in the future. It's important to understand what these common pitfalls are so you can look out for them during the early stages of contracting and take action to prevent them from occurring. Some clients will request most favored customer pricing. That's where you'll give them the lowest rate you offer any other customer, even your biggest and best clients. Tell the client you'll offer that when they reach specific committed levels of expenditures with your firm. If they commit to large purchases, great, but if they're unwilling to commit, they'll usually concede by removing this provision since it's pretty ridiculous. Contingent pricing and at-risk fees can be fraught with peril. Basically, you're putting your fees at risk subject to something happening that may be beyond your control…
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