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TOP CONTRACT TIPS

#10 SHOULD I BE EXCLUSIVE?

Exclusivity in a contract will mean you are the only supplier supplying that particular service or product to the customer.

If you are the supplier, this is great. It means you know there will not be anyone else there to compete for the potential orders the client makes. Plus, it can create customer loyalty.

If you are the client, exclusivity can be useful if you have different people in your organisation ordering goods and services. It will be clear to your staff which supplier they are supposed to use. There is always the concern that the potential supplier doesn’t live up to expectations. To resolve that concern, you will need to ensure in any supply contract, that you have the ability to exit the contract in the event the supplier fails to meet expectations e.g. milestones, timescales, financial difficulties etc.

Please contact WCL to discuss your contract matters further.