International Contracting: Best Practices in Structure and Legal Review

Tim Cummins, CEO & Corporate Counsel, IACCM, USA

Globalisation creates mixed emotions for the in-house counsel. While voyages of discovery - real or metaphorical - can be exciting, international business brings with it greater complexity and risk. This often translates into frustrating delays and long lead times while the lawyers and affected business units build internal consensus and undertake reviews and approvals of contract terms. Few businesses today are immune to the forces of global trade. In-house counsel are expected to structure and review a wide array of international relationships, spanning remote jurisdictions and raising complicated legal and commercial issues. Get it wrong, and the exposures could be horrendous. But getting it right often involves cycle times and delays that are simply unacceptable to the business.

Tim Cummins is Executive Director and CEO of IACCM, a non-profit international association based in Connecticut, USA. Prior to founding the association in 1999, Tim's career included commercial and financial roles in the banking, automotove, aerospace and technology sector. He led sales negotiations for contracts up to $1.5 billion and headed a variety of reengineering projects at IBM Corporation, including the creation of a global contracts process and organisation. Tim regularly produces articles and research papers for publications around the world and acts in an advisory capacity to many in-house counsel regarding best practices in contracting and relationship management.

IACCM is a non-profit international association with members from more than 1,600 organizations and in over 90 countries. As a leader in original research, IACCM works closely with legal, contract management and sourcing organisations to identify best pra