Risk Mitigation Provisions in Commercial Contracts

Gain a deeper understanding of utilizing effective contract provisions calculated to reduce the severity and unpredictability of claims, losses, and damages that may occur when working with third parties.

Partnering with third parties is a core component of virtually all organizations. Many companies simply cannot provide their product or service without these affiliations. Accordingly, organizations must balance risk and reward when defining the nature of the relationship. Businesses must determine to how effectively leverage the opportunities generated from working with outside entities while at the same time manage loss and protect assets. Contracts, in particular risk mitigation provisions, are a key measure companies can take to effectuate the dual goal of advancing business interests and diminishing liability exposure. This topic will help the persons responsible for partner management identify risk, understand risk allocation mechanisms and their interplay, and then implement corresponding mitigation activities within their organization. You will leave with a deeper understanding of utilizing effective contract provisions calculated to reduce the severity and unpredictability of claims, losses, and damages that may occur when working with third parties.

Learning Objectives

• You will be able to identify Risk Due Diligence Types
• You will be able to differenatiate between considerations and concepts when identifying risks
• You will be able to identify Risk Mitigation Clauses
• You will be able to recognize remedies in Risk Management