Director of an IT Company? You Can Reduce Fines that Your Company Pays to Clients for Delays and Faulty Products or Service.
Who hasn’t experienced this situation? You have just signed the agreement and started working with a big client that finds a fault and fines you for it. Consequently, your profits decline and your original planning and P&L must be revised.
By correctly conducting the business and legal aspects leading to an agreement, it’s possible to reduce and even completely avoid fines for delays in completing a project, or for an unpaid service
(an eventuality that occurs to almost everyone), from the earliest negotiation stage through the signing of the contract.
How do I know this? While I served as a legal consultant for top technological companies, I was involved in countless complex projects.
I assisted building a smart penalties model for the project phase and support phases, while introducing limitations and protections into the agreement that reduced fines that were paid to the clients.
The outcome was an increase in revenues received from the client by 15-20%.