Contract Creation and Management Simulation

2659 Words Mar 9th, 2008 11 Pages
In today 's business environment companies are choosing to renegotiate contracts rather than go to court to have the contracts enforced. A court remedy breach of contract can be lengthy, costly, and in the end no one wins. Companies such as Span Systems and Citizen-Schwarz (C-S) should have a clear understanding of contract laws, as well renegotiation practices designed to remedy breach of contract. Both parties are obligated to fulfill each part of the agreement, and failure to meet the terms of the contract by law can be consider a breach of contract. This breach can occur when parties such as Span Systems, whom fail to perform within the guidelines of the agreement. When parties such as Span Systems a leader in banking software and …show more content…
The parties performance based contract will include the following:
• At the expense and discretion of C-S, a release manager with added specifics to the deployment of software.
• C-S will closely monitor the direct removal efficiency of Span Systems and communicate a benchmark to Span Systems in one month from the date of contract sign off.
• Use of measurable performance standards in terms of quality, timeliness and payment schedule.
• Span Systems will be entitled to payment for the percent of services satisfactorily completed as of the date of termination or cancellation. Beta testing performed 30 days from contract sign off will be used as a deliverable to meet product satisfactory. Beta testing period will be fro 30 days.
• Span Systems will certify the software for acceptance testing, Acceptance period will start 1 day after installation of software for the 30 day testing period.

C-S will closely monitor the direct removal efficiency of Span Systems and communicate a benchmark to Span Systems in a month from the date of renegotiation. By implementing monitoring and status reports, a positive and negative feedback will be acknowledge, reinforcement for more workers (if needed) on the project and consideration of the budget of the anticipated deliverable. C-S and Span System will communicate on the progress and status of the deliverables and meet deadlines to stay within the contract.
C-S may
Open Document