Running head: CONTRACT CREATION AND MANAGEMENT
Contract Creation and Management
Introduction
Span Systems is a small software firm that was inquired by a large and prominent German bank, Citizen Schwarz AG. C-S must stay a head of the industry so they hired Span Systems to create a banking software for the bank. The software is the largest, most prestigious that Span Systems has acquired. The contract between Span and C-S is a legal valid contract with all the elements essential in making it binding and enforceable. An offer was presented containing a specific promise and a specific demand a consideration of valuables by C-S to pay $6 million to Span for providing them the software, the offer has been accepted by written agreement.
Once the production of services was implemented, there were concerns and problems that arise that could not be resolved because the contract terminology was too ambiguous. Directives were not specific and clear to provide a remedy. This paper will provide contractual resolutions that will ensure the development of a plan put in place to deal with possible contractual disputes, C-S will have relatively quick and inexpensive dispute resolution options, and Span will have the a means to salvage an important business relationship, even following a contractual dispute.
Communication and Reporting
The original Communication and Reporting contract clause says:
Through the duration of the project there will be regularly scheduled status meetings. The Citizen-Schwartz AG and Span Systems Project Managers will determine the frequency and location of these meetings. The two company's anticipates that the beginning of the project will ...