Safety in Contracts

June 24th, 2021

You’ve heard of safety in numbers, but what about safety in contracts?


Today’s post is by Dave Wenig, Sr.Vice President of Sales and Services at SafeSourcing.

We’ve all heard that there is safety in numbers. It’s generally understood that in a larger group, each individual has a lower chance of something bad happening. Fish do it… humans too.

The point is that safety is a general concern. While we all take precautions to ensure personal safety, often the same level of attention is not paid to the safety of our contracts. Of course, there are contract management solutions available to provide safety relative to your contracts.

As I see it, contract safety is knowing when contracts are set to expire and proactively taking steps to prevent unfavorable auto-renewals. Contract Safety is knowing that the price you negotiated is also the price you pay throughout the contract term. Contract safety is always having your contracts at hand in the event that you need to review them.

Without these elements, you don’t have contract safety. If you don’t know where the contract is or you can’t verify the terms including pricing, or you don’t know when the contract ends, then you do not have contract safety.

Again, there is reasonably sound logic behind the theory that there is safety in numbers. I encourage you to take the same logical approach the safety of your contracts.

Dave Wenig is a Regional Sales Manager at SafeSourcing and is a devoted champion of saving money. Dave or any member of the experienced team at SafeSourcing would be happy to discuss how SafeContract™ can provide you with contract safety. For more information, please contact a SafeSourcing representative.

We look forward to your comments.



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