{"id":3035,"date":"2011-03-21T15:30:00","date_gmt":"2011-03-21T15:30:00","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/2011\/03\/21\/your-supplier-insurance-clause-what-do-you-do-when-a-supplier-negotiates-it\/"},"modified":"2021-07-12T08:07:15","modified_gmt":"2021-07-12T12:07:15","slug":"your-supplier-insurance-clause-what-do-you-do-when-a-supplier-negotiates-it","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/your-supplier-insurance-clause-what-do-you-do-when-a-supplier-negotiates-it\/","title":{"rendered":"Your Supplier Insurance Clause: What Do You Do When A Supplier Negotiates It?"},"content":{"rendered":"

I hope that you have enjoyed the article \u201cSupplier Insurance Best Practices, Part II.\u201d<\/p>\n

My goal with this article, as well as Part I and the accompanying podcast, is to give you the tools to effectively select and negotiate supplier insurance clauses independently. If I asked 100 procurement professionals \u201cWhat do you do when a supplier negotiates the terms of your supplier insurance clause?\u201d I bet I\u2019d get 99 that would say something like \u201cI just turn it over to the legal department because I don\u2019t understand that stuff.\u201d<\/p>\n

Not the answer I\u2019d like to see.<\/p>\n

As the article points out, \u201ccarefully crafted supplier insurance clauses can provide more risk protection to your organization, keep your organization\u2019s insurance claim history cleaner, and make collecting on claims less cumbersome.\u201d Therefore, you should know what you are negotiating!<\/p>\n

I believe that the podcast and the two articles can help you get a handle on what the terms mean when they are and aren\u2019t necessary, and how to handle supplier insurance situations in the real world. If you\u2019re not well-versed in supplier insurance clauses but deal with them routinely, get on it!<\/p>\n

Recommended Reading<\/b><\/p>\n