What the Boilerplate in Your Supply Agreements Really Means

Author(s):

Michael L. O'Shaughnessy, J.D.

Jennifer M. Clements, J.D.

95th Annual International Conference Proceedings - 2010 - San Diego, CA

Abstract

Most contracts contain so-called "standard" terms and conditions, the length of which in some cases exceeds the rest of the contract. Those provisions are often the place where the most potentially onerous and costly obligations of the parties are set out. The ability to understand and negotiate those provisions is essential to avoiding the kind of contract that leaves the buyer at risk, particularly under a form of contract prepared by the seller.