Skip Navigation
 
Follow:
Facebook Twitter LinkedIn YouTube
Share:

Home  >  Membership & Services  >  Financial  >  Contracts

 

 

 

closeClose

Listed below you will find some terms and conditions to look for when negotiating a contract on behalf of the IEEE.

 

 

  • Are restrictions in place to keep the other party from adding an unwanted term or condition?
  • A provision should be included requiring any change and modification of the contract to be in writing and signed by both parties.
  • Be sure that the party who signs the agreement has the proper authority.
  • Provide for duration and the right to terminate. If it appears that the parties are likely to continue on in a business relationship beyond the express term, consider providing for automatic renewals for a year or some other appropriate period of time, always reserving the right to terminate on appropriate notice.
  • Ensure contractual requirements are spelled out clearly and concisely. Spell out exactly what constitutes performance (use quantities, descriptions, time, drawings, specifications, acceptance tests, etc). Specify who is responsible for taking steps necessary for getting permits and meeting all other necessary requirements of performance.
  • Specify who is to carry risk of property loss during contract period. What insurance is necessary to be carried? By whom?
  • If considering arbitration? Always try to use New York State as the venue.
  • What is our current tax status in the location of the contract? VAT / GST Sales Tax status in the state / country the contract is written?
  • Is this an approved IEEE function?
  • Is language translation required?
  • What is the total dollar amount of the contract? Contract value is defined by multiplying the maximum annual amount of receipts or expenditures by the number of contract years.
  • Is there a clause regarding exclusivity? Does this conflict with any other contract throughout the IEEE?
  • Contract should indicate currency in which it will be billed.