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You Can Reduce Contract Risk
You Can Reduce Contract Risk
You Can Reduce Contract Risk
Ebook45 pages43 minutes

You Can Reduce Contract Risk

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About this ebook

Many business decisions a bind one party to another through contracts. These contracts have many names - they are called purchase orders, easement agreements, facility rentals, etc. By using appropriate tools and resources, you can simply manage and assign risk to the appropriate party through the contract. This handy guide contains tips making risk management strategies easy to use in a wide variety of contracts. This resource is useful for purchasing professionals, risk managers, project managers and insurance professionals, providing insights into American and Canadian systems. It will help you avoid common drawbacks in contracts.
Topics Include:
~ Written vs. verbal contracts
~ Authority to bind the corporation
~ Risk Transfers language
~ Hold Harmless and indemnity clauses
~ Types and amounts of insurance
~ additional insured Status
~ Certificates of insurance
~ What to look for on bonds
~ How to make bond claims

LanguageEnglish
Release dateJul 7, 2016
ISBN9781310145094
You Can Reduce Contract Risk
Author

R. Joy Jackson

Joy is a risk management speaker, consultant, author and educator who shows a deep understanding how you can use risk management to overcome obstacles in your business. A professional risk manager with over 25 years experience, Joy believes everyone can benefit from using risk management as one aspect of business skills. A believer in continuing education she encourages greater understanding of business risk and the many ways you can learn to control it. Joy can help you utilize risk management tools to take advantage of opportunities, attract and retain employees and reduce the cost of business.A Fellow, Chartered Insurance Professional with the Insurance Institute of Canada and a Fellow, Risk Manager in the Global Risk Management Institute. Joy offers teaching and training in classrooms, association boardrooms, and as a conference speaker. She’s helped many organizations to improve their approaches to operational management and insurance purchasing. By inspiring you to think differently, work smarter, you can reach your goals faster and with less cost. Read all risk management articles at cunnart.com for free

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    Book preview

    You Can Reduce Contract Risk - R. Joy Jackson

    Risk Management Series Includes:

    Removing the Risk from Child Welfare Services

    Volunteers: Asset or Liability?

    Special Events are Special Risks

    151 Ways to Identify Risk

    ISBN: 9781310145094

    Title: YOU Can Reduce Contract Risk

    Author: Joy Jackson

    Publisher: Smashwords, Inc.

    Copyright © 2016

    All rights reserved.

    www.cunnart.com

    License Notes:

    This e-book is licensed for your personal use only. No part of this e-book may be used, reproduced or transmitted in any form or by any means, electronic or mechanical including photocopying, recording or by information storage and retrieval systems without the express written permission of the author.

    If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please purchase your own copy from your favorite e-book retailer. Thank you for respecting the hard work of the author.

    TABLE OF CONTENTS

    Introduction to Contract Risk

    Written vs. Verbal Contracts

    Negotiating

    Contract-related Assets

    Keep Contract Language Clear

    Authority to Bind the Corporation

    Risk Management Concepts

    Contractual Risk Transfer

    Insurance (AKA Financial Responsibility) Clause

    Additional Insured Status

    Additional Insured VS Additional Named Insured:

    Certificates of Insurance:

    Surety Bonds

    Summary

    Introduction to Contract Risk

    Contracts formally document the relationship between two (or more) parties. Well-written contracts also outline clearly the rights, responsibilities, duties and roles of each party to the contract. Even when clearly written it is possible for misunderstandings and disagreements to occur. At that point many people refer to contract law to assess the validity of the agreement.

    You can be certain of one thing - contract law is complicated. It involves numerous federal and provincial/state laws that apply different standards depending upon the subject

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