Risk Management Contract Review
Risk comes with almost all commercial transactions. And commercial contracts transfer and assign the risk of loss on a number of issues. No one wants to sell $1 million dollars of product for $350,000 of net profit and accept $500,000 of potential loss. That is why it is important to not only understand the risk being transferred and accepted, but to also understand the value of that transfer.
Risk comes with almost all commercial transactions. And commercial contracts transfer and assign the risk of loss on a number of issues. No one wants to sell $1 million dollars of product for $350,000 of net profit and accept $500,000 of potential loss. That is why it is important to not only understand the risk being transferred and accepted, but to also understand the value of that transfer.
How CORE ensures your best interest
CORE Risk Services reviews contracts from a risk management perspective to protect your interests by identifying contract risks and liabilities and providing assistance in managing them.
Our risk management contract reviews often include:
- Negotiating the wording of contracts on your behalf.
- Contractual risk transfers to the other party when the other party is in a better position to handle it.
- Acknowledging the risk or liability and using it as leverage for concessions on other parts of the contract.
- Transferring risks and liabilities through insurance.
We review all types of contracts, including:
- Property leases
- Equipment leases
- Vendor and subcontractor agreements
- Customer service agreements
- Purchase or sale agreements
CORE Risk Services reviews contracts from a risk management perspective to protect your interests by identifying contract risks and liabilities and providing assistance in managing them.
Our risk management contract reviews often include:
- Negotiating the wording of contracts on your behalf.
- Contractual risk transfers to the other party when the other party is in a better position to handle it.
- Acknowledging the risk or liability and using it as leverage for concessions on other parts of the contract.
- Transferring risks and liabilities through insurance.
We review all types of contracts, including:
- Property leases
- Equipment leases
- Vendor and subcontractor agreements
- Customer service agreements
- Purchase or sale agreements
Contract review and risk management
For contracts in which the other party is providing insurance for your benefit, such as property and equipment leases and vendor and subcontractor agreements, we assist with the wording of the insurance section to ensure it clearly specifies the promised coverage. Then we follow up for documentation.
In situations where you are required to provide insurance coverage, we make sure the requirement is something you actually want and are able to provide. In addition, we evaluate the indemnification requirements in relation to the insurance coverage so you are aware of any uncovered liabilities.
Unlike attorneys we do not draft contract language or in any way engage in the practice of law for our clients. Rather, our risk management contract reviews are typically conducted through or with a client’s outside or in-house counsel.
For contracts in which the other party is providing insurance for your benefit, such as property and equipment leases and vendor and subcontractor agreements, we assist with the wording of the insurance section to ensure it clearly specifies the promised coverage. Then we follow up for documentation.
In situations where you are required to provide insurance coverage, we make sure the requirement is something you actually want and are able to provide. In addition, we evaluate the indemnification requirements in relation to the insurance coverage so you are aware of any uncovered liabilities.
Unlike attorneys we do not draft contract language or in any way engage in the practice of law for our clients. Rather, our risk management contract reviews are typically conducted through or with a client’s outside or in-house counsel.
