Rethinking Your Risk Tolerance in Today’s Economy
The traditional strategy in the public sector of using one-sided contractual indemnities to impose all conceivable risks on the contractor does not work in today’s competitive environment. Respondents are becoming more sophisticated and, in many cases, more selective about the opportunities they respond to. Aside from potentially dissuading the best contractors from participating in your procurement process, over allocating risk to a contractor can be a risky move causing downstream contract management and relationship management issues.
This session will take a deep dive into contractual indemnification provisions and examine how to strike an appropriate risk balance using specific examples and corresponding indemnity clauses. While it is unlikely that you will be tasked with the initial drafting of these important legal clauses, you need to understand the implications of the variations that are commonly used, so that you can recognize the need to adjust template language in select circumstances, and are well-equipped to have a meaningful discussion with your own legal counsel about this tricky balancing act.
- Analyze sample indemnity clauses and their implications.
- Explore how to effectively use indemnities to protect your organization while striking a workable balance of risk allocation with the contractor.
- Discuss recent relevant case examples involving indemnities.
Contact us to schedule your in-house session.