BSBPUR402 - Diploma of Automotive Management & Negotiate Contracts - Management Assignment Help

Assignment Task

    
Negotiate terms of contracts with suppliers
1.1. Offer advice and undertake negotiations without prejudice.
Many businesses categorise themselves as ‘suppliers suppliers of raw products’, finished goods or even services. Fewer businesses categorise themselves as receivers of goods or services. It follows that a large proportion of businesses pay attention (in varying degrees) to their supply terms, whether they are “standard” terms of trade documents which are generic and used for each transaction, or more comprehensive “purpose built” supply agreements drafted specifically for a specific transaction. However, a far less proportion of businesses pay the same amount of attention to the supply terms received from others. For this very reason, it is critical for any businesses to look at their trading activities from both the perspective of a supplier and a customer when reviewing policies and procedures as they relate to entering into relationships with third parties. A failure to be vigilant when entering into supply relationships can result in disastrous consequences if businesses unwittingly agree to unfavourable contractual terms.

Supply contract is an agreement by which a seller promises to supply all of the specified goods or services that a buyer needs over a certain time and at a fixed price, and the buyer agrees to purchase such goods or services exclusively from the seller during that time. In international markets a supply contract is often necessary in order to lock in discounted pricing and other benefits that the supplier is agreeing to provide to the client for a specific period of time. The terms of a supply contract often define everything from the means whereby the products are delivered, terms of payment, and any other aspect of the relationship that the two parties have determined to be necessary. The supply contract protects the rights of both parties. The client knows what to expect in terms of the goods received and how they will be delivered. In turn, the supplier knows what the client is likely to need and how payment will be submittedSuch contracts assist in clearly setting out the rights and responsibilities of each party to the transaction thereby removing ambiguity. Contracts can set mechanics of the transaction (payment, governing laws, disputation and unavoidable delays) and define limits (time limits, costings, warranty periods, etc). Arguably most importantly, contracts can clearly apportion liability and minimise (or at least define) legal and financial risk for all parties involved. There are a number of “usual” topics which are generally covered by supply contracts.

These include:

• description of supply and timetables for delivery
• performance criteria and/or specifications
• supply site and safety
• title to and risk in goods
• price, invoicing and payment
• warranties
• inspections/defects liability periods
• variations to contractual works
• insurance, indemnities and limitation of liability
• security personal guarantees, retention amount, bank guarantee
• confidentiality
• force Majeure
• dispute resolution
• governing law

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