In this practical webinar, you will learn how to develop healthy business relationships with your vendors to get the best results for your company or agency. You will also receive a detailed overview of the various tools you can use to maintain vendor quality standards. Among other things, you will explore steps to develop your company’s terms and conditions to strengthen your position in an agreement.
Upon course completion, you will be able to:
- Use contract language to better your company’s position.
- Limit risks to your organization.
- Review case studies that explore vendor relationships and how to avoid conflicts.
- Explore tools to be used to prevent underperforming vendor under contract.
You will review the following:
1. This is a Business Relationship
a. You are representing your Company or Agency
b. Your First Priority should be to look out for the best interests of your Employer
c. Your Vendor will be looking out for their best interests
d. Avoid getting into a personal relationship with your supplier or their representative
2. Coming to Terms with your vendor
a. Make your vendor aware of your company or agency purchasing terms and conditions
b. Bind your agreements with vendors using your written or published terms
c. Avoid using agreements drafted by your vendor
d. Review all vendor terms and conditions of sale, warranty, liability, indemnification, etc.
3. Limit the Risk to your Organization
a. Require Insurance of all appropriate types
b. Require certifications or licenses if required
c. Provide for Penalties for unsatisfactory performance
d. Provide convenient exit clauses for your organization
e. Do a vendor Responsibility Check
4. How to increase the quality of your business relationship with vendors
a. Know what products and services they provide
b. Offer them open and competitive solicitations
c. Give them adequate time to respond to solicitations
d. Monitor their Performance
e. Pay them timely in accordance with your published payment terms
5. Case Studies
a. Vendor is doing work that puts your company at High Liability Risk
b. Vendor is not providing Quality Transportation Services
c. Long time vendor is protesting their loss of Business
d. Monitoring Supply vendor leads to more flexibility to the end user
e. Poor results are discovered after the vendor has left the job
Advanced Preparation: None
Program Level: Beginning
Field of Study: Accounting, Finance
Credit Type: Group Internet Based for the Live Program.
Kenneth Jones
Center for International Development at the University of Albany
Ken Jones is a procurement specialist with the Center for International Development at the University of Albany. Ken has over 30 years of experience in the public and non-profit procurement sector, most of which was spent in hands-on procurement or supervising and training procurement staff.
Accounting Credits
| Credit | Value | Field of Study | Format |
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CPE Credit - Maximum Credit Hours: Please see above. You must attend at least 50 minutes to obtain credit. Fields of Study: Please see above. Teaching Method: Lecture. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state’s regulatory board.
Clear Law Institute has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program.
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Can I still receive Continuing Education Credits if I view the webinar recording instead of the live presentation?
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