“Governance – What Governance?” by Tim Cummins.

Analysis of this type requires in-depth thought about individual terms and term elements. It requires creative solutions to identify alternatives, off-sets and value propositions. Terms become strategic and therefore require senior management commitment to drive change and to make significant risk and value decisions. And the process is not 'one-time'; in fast-changing markets, new threats and opportunities must be monitored to ensure terms remain competitive and relationships are managed in ways that optimize their value.

This report on the Top Ten Negotiated Terms is the first in a 2-part series. The second report will focus on the extent of variations between buy-side and sell-side contracts, as well as geographic differences (caused by legal system or culture) and also variations between offering types (for example, products compared with services or solutions).

Tim Cummins is Executive Director of IACCM and worked with the Founder Corporations to establish the Association in 1999. He has more than 25 years experience in commercial contracting, gained with corporations that included NatWest, British Leyland, BAe and IBM Corporation. Tim has led negotiations up to $1.5bn in value and has lived or worked in over 40 countries. While working in the Chairman's office at IBM Corporate Headquarters, he led studies on the business impacts of globalization and then successfully managed projects to reengineer IBM's global contracting processes. Tim was a member of the UK's Commercial Lead Body and has had papers commissioned by both the US Department of Labor and the UK Department of Education. For more information you may visit the association website at www.IACCM.com.

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