Contract Creation and Management Simulation
The contract outlined below describes the agreement between Span Systems, a software designer and Citizen Schwarz AG, a large German bank. The purpose of the contract is to outline the details surrounding a project Span Systems is to complete for Citizen Schwarz AG. Span Systems is to design software to meet the needs and requirements specified by Citizen Schwarz AG. Both parties must come to an agreement and have all details identified and included within the terms of the contract prior to commencement of the project.
Performance
Payment for the job will be disbursed in increments based on pre-determined steps in the project. Once each step is reached and completed, a portion of the payment will be released to the party designing the software. After 50% of the work is complete, neither party may cancel this agreement, in whole or in part. The complete performance by the party designing the software will be paid in increments as they have fulfilled every duty required by contract in that step of the project. If the performance of the party designing the software is not complete and does not meet the terms of this contract by the other party they may sue to enforce the right.
Change Control
Any and all changes will be presented to the customer and must be evaluated and approved before implementation. A deadline for response will be provided to ensure the project keeps to schedule. The changes that are to presented to the customer must be done so within three business days for the evaluating party to approve or deny the implementation. This will ensure no issues with timelines for the project. The approval or denial of changes to the project by the customer must be done within two business days from the dat ...