Speaking at the InsideCounsel SuperConference, a lawyer from Aerojet described his “Buyer’s Handbook.” It weighs in at 150 pages. The left-hand page shows a particular clause in Aerojet’s procurement contracts and the right-hand page provides both commentary on that clause and alternative language that its buyers might resort to. For example, Aerojet wants the jurisdiction for disputes to be California, but it is sometimes acceptable to accept a contract where Aerojet agrees to bring any action against the seller in the seller’s chosen state.
The speaker said that this hefty guideline for contracting helps keep positions consistent, helps to train buyers not only in what to seek during negotiations but also why, and also makes his job much easier since he has assembled in one document – which is easily and constantly updated – much of his experience and counsel (See my post of Nov. 8, 2010: templates for common contracts with 11 references.).