Contract Creation and Management Assignment Example | Topics and Well Written Essays - 1250 words

Contract Creation and Management - Assignment Example C-S claims quality of deliverables from Span has been unacceptable and behind schedule. C-S has demanded immediate transfer of all unfinished codes as it cannot afford to reschedule slips. C-S has also asserted the recession of the contract. Span, on the other hand, claims user requirements have grown disproportionately. Additionally, span claims C-S’s review time and approval was affected due to change in the structure of project management. In the simulation between Span Systems and C-S, both parties had a valid contract. C-S offered Span Systems a contract to create banking software to market within one year. Span accepted the legal offer and promised to deliver the software on time. However, there was a breach of contract between the two parties, and the contract required restructuring and clarification. When creating the contract, every clause should be fiercely negotiated as this will help both parties reach a consensus easily. Each party did not have a clear understanding of the specific requirements of the project. The final contract did not clearly define the roles and it was also ambiguous. There are various principles that apply to such issues. In this case, the contract should clearly define each party’s role as this will help in understanding roles. A successful business partnership can be achieved only if a contract is carefully reviewed before sign-off. Clarity of purpose is an essential aspect that ensures successful contracts. C-S asserted the recession of the contract with Span, but Span developed some negotiation points that could help save the project. There are contract clauses that can be used to start negotiations between C-S and Span. It is essential to analyze the pros and cons of each contract clause in consideration for the termination of the contract: requirements change which refers to changes in the user and system requirements since originally determined in the system study stage, substantial