Principles

Guidance

Introduction

The contracting principles in this document have been developed with and are endorsed by the International Association of Contract and Commercial Management (IACCM) and are referred to as the "IACCM Contracting Principles." They are intended to serve as an industry-adopted set of guidelines to support either the drafting of applicable contract clauses or the negotiation of applicable terms and conditions between a supplier and a customer. These principles are intended to reduce or eliminate the need for negotiation on these issues and shorten cycle time to signature. Participants who accept these IACCM Contracting Principles are free to use them on a case by case basis and as they deem appropriate; however, it is expected that the benefits of their use will be maximized when both parties to a transaction agree to rely on them and draft the relevant clauses accordingly. In addition, these principles are not intended to constitute formal legal advice.