For Smart Home Technology, the Contract Is Key

Businessman holding VR device

The price of a procured product is always important, but equally important are other contractual terms that reflect the commercial agreement.

June 7, 2021
James W. McPhillips & Rachel Newell - Gravel2Gavel Construction & Real Estate Law Blog

In our previous post we discussed the importance of conducting a thorough due diligence and procurement process with smart technology providers. Next up? The contract.

The price of a procured product is always important, but equally important are other contractual terms that reflect the commercial agreement. Ultimately, the contract should answer the fundamental question of “What are you buying?” The product itself is not the only feature being purchased. A customer is also buying certainty, service performance, risk mitigation, flexibility, security, compliance, and other similar “intangible” items of value.

The Price of Certainty
As part of the price, the purchaser of smart technology is also buying certainty. What do we mean by that?

Reprinted courtesy of James W. McPhillips, Pillsbury and Rachel Newell, Pillsbury

Mr. McPhillips may be contacted at james.mcphillips@pillsburylaw.com
Ms. Newell may be contacted at rachel.newell@pillsburylaw.com



714.701.9180

Arrange No Cost Consultation










Subscribe to Construction Defect Journal

Construction Defect Journal Archives - Recent CD News for Construction Claims Professionals

 

Construction Defect Journal is aggregated from a variety of news sources, article submissions, contributors, and information from industry professionals.

No content on this site should be construed as legal advice or expert opinion. By viewing this site you agree to be bound by its terms and conditions

 

Copyright 2021 - Construction Defect Journal – All Rights Reserved