Visit Our Sponsors
This is natural. Everyone entering into the contract is enthusiastic and wants to succeed. No one foresees a need to terminate the relationship, and there is the human tendency not to even want to address this.
Nevertheless, companies are ahead in the game if they take time to carefully define their exit strategies with their new vendors before they enter into any agreement.
For one thing, read the vendor's termination clause. If you don't agree with it, amend it. Termination clauses for many cloud services contracts are usually 30 to 90 days advance written notice. Make sure that this termination clause is present in the vendor contract, and if it isn't, add your own.
Read Full Article
Keywords: Cloud, SaaS & On-Demand Systems, Technology, Legal, Govt. & Regulatory Issues, Supply Chain Security & Risk Mgmt, Supply Chain Analysis & Consulting, Global Supply Chain Management, Contract Termination Clause, Saas Lawsuits, Cloud Litigation
Enjoy curated articles directly to your inbox.