Running head: Contract Creation and Management
Contract Creation and Management Memorandum
University of Phoenix
TO: Management Staff
DATE: May 10, 2009
SUBJECT: Citizen-Schwaz AG Contract
The purpose of this memorandum is to identify possible solutions that management could utilize to avoid legal risks and reduce liabilities. The challenges associated with minimizing contract risks are numerous; therefore, adjustments will have to be made to handle such issues from a proactive standpoint. Solutions to help limit these challenges will be discussed in this business contract management memorandum. Since management will play a critical role in the contract risk management process, making effective decisions and meeting all contractual agreements will help the company seize more opportunity (Jennings, 2006).
The focus of this memorandum is on contracts, more specifically the bilateral contract entered into between Span Systems and Citizen-Schwarz AG. Since greater opportunities will develop from a successful contractual partnership between Span Systems and Citizen-Schwarz, the existing agreement should be taken seriously. With contracts leading as the major cause of business conflict, these conflicts can progress toward 1) a loss of production and/or productivity, 2) termination of business partnerships/relationships and 3) legal fees that can financially cripple a business (Jennings, 2006).
This memorandum will examine the legal risks and business opportunities that where presented in the simulation. Identifying positive measures that managers can use to circumvent risks, optimize opportunities and solving disputes will enhance the success of this contract between Citizen-Schwarz AG and Span Systems.
Legal Risks and Opportunities
As stated in the simulation, Span Systems, located in California, is a cutting edge and renown banking software development company that develops specialized proprietary e-banking...