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    You Can Reduce Contract Risk
    You Can Reduce Contract Risk
    You Can Reduce Contract Risk
    Ebook45 pages38 minutes

    You Can Reduce Contract Risk

    By R. Joy Jackson

    ()

    Read preview

    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
    PublisherR. Joy Jackson
    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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