| Outsourcing is the modern mantra of doing business | | | | 3. Modify Change of ownership provision- This |
| efficiently wherein both the companies get to have a | | | | provision should include acquisitions, breakups. It should |
| fair deal of profit. It's a win-win situation at both the | | | | deal with the events such as breaking up of the |
| ends. However, the present conditions make it | | | | supplier. |
| necessary for you to be extra careful and proper | | | | 4. Owning of the Assets- the contract should clearly |
| security of your outsourcing relationship. The recent | | | | mention about the ownership of the assets such as |
| terrorist attacks, racial attacks and such other | | | | the software developed or the documentation and it |
| problems can affect your outsourcing business | | | | should also address in details regarding intellectual |
| immensely. Therefore, having an outsourcing contract | | | | property. |
| with protection is a must in this uncertain world. Here | | | | 5. The terms and conditions- the contract must |
| are some of the points that your outsourcing contract | | | | address to the terms and conditions in detail with its |
| should address for a secured working relationship. | | | | special focus on the emergent concerns. For this |
| 1. Revision of clauses- You can revise certain clauses | | | | purpose clauses such as transition out requirements, |
| such as force majeure as it is the prime clause that | | | | audit provisions, and termination costs must be |
| protects you against any uncertain mishap. It is a | | | | addressed. |
| clause that releases the buyer and the vendor both | | | | 6. Take a professional's advice- before making the |
| from any liability during the prevalence of any such | | | | contract it is always better to take advice from an |
| event that is not within one's control like natural | | | | experienced and well qualified professional. An expert |
| disasters or such similar instances. | | | | can get your contract done in the exact manner. |
| 2. Review the termination provisions- A termination | | | | Thus, make sure that your contracts for outsourcing |
| provision should be such that it permits the buyer to | | | | involves all these important clauses and thereby allows |
| respond to the dynamic vendor conditions. The | | | | you to run your business smoothly even in the times of |
| provisions should also deal with the matter of the | | | | uncertainty. Hope this helps you. |
| vendor's viability of the unforeseeable threats. | | | | |