THE HIDDEN RISKS IN YOUR CONTRACTS: REVIEW OF SAMPLE TERMS AND CONDITIONS

Operationalizing Contracts Terms and Minimizing Indemnities Risks

January 31, 2019 2:15pm

Brent Benoit
Chief Compliance Officer
National Oilwell Varco (Houston, TX)

Doug Cohan
Deputy Compliance Officer, Senior Assistant General Counsel
Hess Corporation (Houston, TX)

Philip Islip
Vice President Legal and Contracts – North America, Central America, and Asia Pacific
SBM Offshore (Houston, TX)

Josh Wallenstein
Managing Member
The Wallenstein Law Group (Houston, TX)

This practical panel will explore the operational challenges and solutions for drafting, negotiating and administering compliance terms and conditions. It will also address the importance of measuring the degree of corruption risks embedded in contractual language, specifically with regard to indemnities. Topics covered will include:
  • Understanding how much risk you are truly mitigating in your contracts
  • The lengths and limits of ABAC-specific clauses
  • Rethinking the ever-increasing number of AC indemnity provisions and stemming additional piling on
  • Effectively communicating with business partners, contractors and third parties on various contractual language addressing corruption risks: Audit rights, representations, mutual commitments, etc.