Agile Contracting – Best Practices for Managing Contract Risk in Uncertain Times

As organizations adapt to the new reality of living with the pandemic, managing their contractual risk going forward is critical to ensuring that financial and operational exposures are minimized. Whether a contract is commercial or financial, construction or supply chain, rethinking the contract process is vital to protecting the organization’s future. What are some of the changes organizations need to consider in their future contractual practices? How might standard terms and conditions change and what industries could be most impacted? What are the lessons we can learn from the pandemic on how to build more robust future contracts and agreements between counterparties?

• Assessing counterparty risk and prioritizing exposures
• Managing existing contractual risk – adopting changes and amendments
- Disruptions to supply chains and workforces; OHS concerns
• Moving from crisis response to the ‘new normal’ – tendering, standardizing contracts, and templates
• The importance of a robust contract management system
• Improving existing contractual practices
- Specific to pandemic events
• Thinking strategically and long term about managing counterparty risk

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