Gross Misconduct and Negligence in Procurement Contracts: What Buyers Need to Know
Gross Misconduct is a severe breach of duty or unethical behavior that significantly violates the fundamental terms of a contract
Knowledge Base
Tag: supplier risk
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Counterfeit Components in Procurement: How Buyers Protect the Supply Chain
Counterfeit components are a growing concern. It’s essential for companies to have a counterfeit components clause in a procurement contract.
Free and Clear Products in Procurement: How Buyers Avoid Ownership Risk
A buyer may believe that the purchase is complete when the goods are delivered and the invoice is paid. But what if another party still has a legal or financial claim to the product? This can happen if the supplier has used the product as collateral, if a creditor has a lien, if ownership is…