Paper Process (P)
Rigorous regulatory or business compliance needs often lead into time intensive negotiations. These can take weeks or even months, but are necessary to have a legal agreement.
This process is reason No. 1 why contracts get postponed and deals slip out of a quarter. Make sure you have executive sponsorship to give negotiations with Purchasing and Legal the right focus, the right time and the right resources. Be paranoid about the details!
Questions to ask:
- How is the legal construct set up?
- Are there frame agreements in place?
- What are the critical mandatory terms and conditions?
- Which contractual paperwork is the basis of negotiation?